Beauty Packaging Staff11.12.20
Sally Beauty Holdings Inc. has announced financial results for its fourth quarter ended September 30, 2020. Net sales were $957.8 million in the fourth quarter, a decrease of 0.8% compared to $965.9 million in the fourth quarter of 2019.
The company saw a significant acceleration in its sales and margin performance compared to the third quarter boosted by the reopening and stabilization of its operations across the globe and progress from its strategic initiatives in innovation, digital content, technology and talent.
Chris Brickman, president and CEO of Sally Beauty Holdings, said, “While total reported sales for the fourth quarter slightly trailed the prior year period, due primarily to the ongoing impact of the COVID crisis and fewer stores, we are pleased to report positive same store sales and significant gross margin expansion.”
Full Year Results
For the full fiscal year, net sales were $3.51 billion, a decrease of 9.3%, driven primarily by the impact of COVID-19 shut-downs, operating 23 fewer stores, and an unfavorable impact from foreign currency translation of approximately 10 basis points. Despite this, global e-commerce sales grew by 103% compared to the prior year.
Looking forward to fiscal 2021, Brickman says the company’s strategic initiatives will involve capitalizing on strong consumer interest in DIY hair color, building and refining its digital customer experience including the addition of ‘Buy Online / Pickup In-Store’, growing its new Private Label Rewards Credit Card Program, expanding the rollout of JDA to the rest of its distribution centers, and growing partnerships with Female-owned and Black-owned brands.
“This should provide our Company with a strong platform as we navigate past COVID-19 and achieve our goal of sustained long-term profitable growth,” Brickman concluded.
The company says it will provide perspective on its outlook for the coming quarters during its earnings conference call. It will not be providing formal guidance at this time.
The company saw a significant acceleration in its sales and margin performance compared to the third quarter boosted by the reopening and stabilization of its operations across the globe and progress from its strategic initiatives in innovation, digital content, technology and talent.
Chris Brickman, president and CEO of Sally Beauty Holdings, said, “While total reported sales for the fourth quarter slightly trailed the prior year period, due primarily to the ongoing impact of the COVID crisis and fewer stores, we are pleased to report positive same store sales and significant gross margin expansion.”
Full Year Results
For the full fiscal year, net sales were $3.51 billion, a decrease of 9.3%, driven primarily by the impact of COVID-19 shut-downs, operating 23 fewer stores, and an unfavorable impact from foreign currency translation of approximately 10 basis points. Despite this, global e-commerce sales grew by 103% compared to the prior year.
Looking forward to fiscal 2021, Brickman says the company’s strategic initiatives will involve capitalizing on strong consumer interest in DIY hair color, building and refining its digital customer experience including the addition of ‘Buy Online / Pickup In-Store’, growing its new Private Label Rewards Credit Card Program, expanding the rollout of JDA to the rest of its distribution centers, and growing partnerships with Female-owned and Black-owned brands.
“This should provide our Company with a strong platform as we navigate past COVID-19 and achieve our goal of sustained long-term profitable growth,” Brickman concluded.
The company says it will provide perspective on its outlook for the coming quarters during its earnings conference call. It will not be providing formal guidance at this time.
