Sally Beauty's 2Q earnings down 4.3 pct
NEW YORK (AP) — Sally Beauty Holdings Inc. said that its second-quarter earnings fell 4.3 percent on sluggish sales.
The company, which sells cosmetics and beauty supplies to both the consumer and professional markets, said Thursday that it earned $64.9 million, or 36 cents per share, in the quarter ended March 31. That compares with $67.8 million, or 35 cents per share, in the year-ago period.
Revenue rose 1 percent to $898.2 million from $889.3 million in the year-ago period.
Revenue at stores open at least a year fell 0.8 percent compared with a 9.1 percent increase in the year-ago period..
Analysts had expected earnings of 39 cents per share on revenue of $919.7 million.
In a statement, Gary Winterhalter, chairman, president and CEO says that the quarter's performance reflected in part lower traffic fueled by two fewer days compared with the prior year quarter.
Sales increased at both the Sally Beauty supply and the beauty systems group. Sally Beauty Supply sales rose 0.4 percent to $556 million. Beauty Systems Group sales rose 2.1 percent to $342.3 million.
Sally Beauty said that it expects that revenue at stores open at least a year will be up 3 percent to 4 percent in the second half of the year, resulting in full year growth of 2 percent to 2.5 percent.
Shares fell 33 cents, or 1.1 percent, to $29.26 in late morning trading. They have traded in a 52-week range of $22.49 to $30.59.