Alberto-Culver’s First Quarter Sales Jump 13.4% to a Record $696 Million

The Alberto-Culver Company, Melrose Park, IL, announced that strong performances by both its Sally Beauty Company and its consumer products unit-led by the Alberto VO5, St. Ives and TRESemme brands-drove sales and profits to record levels for the fiscal year 2003 first quarter which ended Dec. 31, 2002.

Record first quarter sales were $696.8 million, an increase of 13.4% over the first quarter of fiscal year 2002. Net earnings for the quarter also set a first quarter record of $36.0 million, an increase of 22.9% over the previous year.

President and chief executive officer Howard B. Bernick characterized the quarter as, “outstanding, particularly in view of the tough competitive and global economic environment in which the company was able to achieve these results and following on the company’s previous strong growth over the last 11 record sales and record earnings years.”

Mr. Bernick pointed out that a key component in the company’s sales growth rate in the most recent calendar year was Beauty Systems Group’s very rapid expansion and its successful integration of the $100 million Armstrong-McCall acquisition completed just over a year ago in December, 2001. Austin, TX-based Armstrong-McCall is a full-service chain of beauty supply stores and sales consultants selling exclusively to the professional market in the southwestern U.S. and Mexico.