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Dec 31, 2022
Sally Beauty Q1 2023 Earnings Report
Sally Beauty Holdings reported first quarter fiscal 2023 results, with consolidated comparable sales increasing and successful implementation of distribution center consolidation and store optimization plan.
Key Takeaways
Sally Beauty Holdings reported a decrease in net sales by 2.4% to $957.1 million compared to the prior year, but consolidated comparable sales increased by 1.1%. The company successfully implemented its distribution center consolidation and store optimization plan. GAAP diluted EPS was $0.46, and Adjusted Diluted EPS was $0.52.
Consolidated comparable sales increased 1.1% with a two-year stack increase of 7.2%.
GAAP operating margin was 9.0%, while adjusted operating margin reached 10.0%.
GAAP diluted EPS stood at $0.46, with adjusted diluted EPS at $0.52.
Successfully implemented distribution center consolidation and store optimization plan.
Sally Beauty
Sally Beauty
Sally Beauty Revenue by Segment
Revenue by Segment
Sally Beauty Supply Revenue
CapyFin.comBeauty Systems Group Revenue
CapyFin.com Forward Guidance
The Company is maintaining the following guidance for full fiscal year 2023:
Positive Outlook
- Comparable sales are expected to increase by low single digits compared to the prior year, driven by growth in key categories, sales transfer from store closures, our expanded Regis distribution and new strategic initiatives.
Challenges Ahead
- Net sales are expected to decline by low-single digits compared to the prior year. This reflects approximately 150 to 200 basis points of unfavorable impact due to store closures net of expected sales recapture rates from our optimization efforts, and approximately 150 basis points of anticipated impact from foreign exchange headwinds.
Revenue & Expenses
Visualization of income flow from segment revenue to net income