Sally Beauty Q2 2020 Earnings Report
Key Takeaways
Sally Beauty Holdings, Inc. reported a decrease in consolidated net sales by 7.9% to $871.0 million due to COVID-19 impacts, despite a pre-COVID increase of 4.7% in same store sales. GAAP diluted EPS decreased by 77.8% to $0.12, while adjusted diluted EPS decreased by 54.9% to $0.23.
E-commerce growth accelerated with a +28% increase in Q2, +52% in March, and +353% in April.
Store network restart underway with 1,500 stores open to the public, 1,100 ship-from-store locations, 2,300 curbside locations, and 300 same-day-delivery locations.
Aggressive cash management and incremental liquidity provide a strong runway.
Consolidated same store sales decreased 7.1% for the full quarter, impacted by COVID-19, but increased 4.7% prior to March 12.
Sally Beauty
Sally Beauty
Sally Beauty Revenue by Segment
Forward Guidance
Due to the uncertainty around COVID-19, the Company withdrew its full-year financial guidance for fiscal year 2020 and is not issuing financial guidance in connection with its second quarter earnings call.
Revenue & Expenses
Visualization of income flow from segment revenue to net income