×
832
Fashion Jobs
L'OREAL GROUP
Trade Marketing Manager
CDI · Montreal
TOM FORD BEAUTY
Marketing Manager, Tom Ford, by Killian & Frederic Malle (1 Year Contract)
CDI · Toronto
NORDSTROM CANADA RETAIL INC
Loss Prevention, Security Ambassador 1, Pacific Centre
CDI · Vancouver
NORDSTROM CANADA RETAIL INC
Security Ambassador, Loss Prevention, Willowbrook Rack
CDI · Langley City
TAPESTRY
Sales Supervisor - Cross Iron Mills - Kate Spade
CDI · Calgary
RALPH LAUREN
Polo Factory Store - General Manager
CDI · Winnipeg
MAC
Bilingue Directeur(Rice) Régional Des Ventes/ Bilingual Field Sales Manager - (Retail Partner) - Mac Montreal,qc
CDI · Montreal
MAC
Field Sales Manager - (Retail Partner) - Mac (1 Year Contract)
CDI · Toronto
TJX CORPORATE
HR Digital Media Specialist
CDI · Mississauga
ESTÉE LAUDER COMPANIES
E-Commerce Manager, Mac Brand
CDI · Toronto
NORDSTROM CANADA RETAIL INC
Security Ambassador
CDI · Mississauga
NORDSTROM
Loss Prevention Security Ambassador Vaughan Mills Rack
CDI · Vaughan
NORDSTROM CANADA RETAIL INC
District Manager Asset Protection Eaton Centre
CDI · Toronto
ESTÉE LAUDER COMPANIES
Senior Manager, Accounting & Controls
CDI · Toronto
FOOT LOCKER
Overnight Assistant Operations Manager
CDI · Vaughan
FOOT LOCKER
Overnight Assistant Operations Manager
CDI · Brampton
NORDSTROM
Loss Prevention Security Ambassador South Edmonton Common Rack
CDI · Edmonton
L'OREAL GROUP
Business Consultant - Québec, Québec
CDI · Quebec City
NORDSTROM CANADA RETAIL INC
Loss Prevention Agent, Pacific Centre
CDI · Vancouver
ESTÉE LAUDER COMPANIES
Operations Manager/Group Leader - 3rd Shift
CDI · Markham
ESTÉE LAUDER COMPANIES
Maintenance & Reliability Manager
CDI · Markham
MARSHALLS
Store Coordinator, Full-Time, 3 Months Contract, Marshalls Trinity Commons Brampton
CDD · Brampton
Published
Feb 9, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sally Beauty manages earnings rise despite disappointing sales

Published
Feb 9, 2021

Denton, Texas-based professional beauty supply company Sally Beauty Holdings, Inc. has reported net earnings of $57.2 million for the first quarter ended December 31, 2020, reflecting a 7.5% year-over-year increase from $53.2 million, in spite of sales that came in under Wall Street estimates.


Sally Beauty's sales fell 4.5% in Q1 - Instagram: @sallybeauty

 
Quarterly net earnings per share were $0.50, up from $0.45 in the same period in the previous year.
 
Sales for the quarter decreased 4.5% year over year, from $980.2 million to $936.0 million, while same store sales fell 3.7%. Wall Street analysts had predicted that the company would report net sales of around $967.9 million.

The decline in Sally Beauty’s revenues was largely due to the Covid-19 pandemic, which led to temporary store closures in some international markets, restricted capacity in others, and salon shut-downs in California and parts of Canada. During the quarter, the company was also operating 43 fewer stores compared to the prior-year period.
 
Global e-commerce sales increased 48%, partially offsetting the decreases in brick-and-mortar sales.
 
The company also saw improvements in its consolidated gross margin, which was 50.3% in the quarter, representing an increase of 190 basis points compared to 48.4% in the prior-year period, thanks mainly to reduced promotional activity.
 
By segment, the company’s Sally Beauty Supply business saw its net sales decrease 3.8% to $547.7 million, while its operating earnings rose 28.2% year over year to $95.1 million. At Beauty Systems Group, net sales dropped 5.5% to $388.4 million, with operating earnings falling 22.2% to $48.6 million.
 
“Our teams executed well both operationally and financially in a particularly challenging topline environment,” said Sally Beauty president and CEO Chris Brickman in a release.
 
“Despite the disruption to sales from store closures and capacity restrictions globally and salon shut-downs in California and parts of Canada, we delivered strong gross margins above 50%, closely managed expenses and generated a 6% increase in adjusted diluted earnings per share,” he added.
 
Due to continued uncertainty surrounding the ongoing coronavirus crisis, Sally Beauty has not provided formal financial guidance for the second quarter or the full fiscal year.

Copyright © 2021 FashionNetwork.com All rights reserved.