Alberto-Culver Posts Record Sales and Profits in First Quarter

The Alberto-Culver Co., Melrose Park, IL, reported sales rose 9.8% to $764.8 million and net earnings jumped 18.8% to $42.8 million for the first quarter ended Dec. 31, 2003. Executives said strong performances came from Sally Beauty, the Beauty Systems Group and from consumer products, led by Alberto VO5, St. Ives and Tresemme brands.

President and chief executive Howard B. Bernick said, “There are few companies of our size in this country, or frankly in any country, that have a growth record as solid and consistent as that of the Alberto-Culver Company. Our strong past and today’s announcement of excellent first quarter 2004 operating results positions us well for another growth year in 2004 and for a strong future.”

Sally Beauty Supply expanded to 2,065 stores in North America and to 221 international stores in the UK, Germany and Japan. The Beauty Systems Group grew its number of stores and increased its professional distributor sales consultants to 667 stores and 1,218 consultants, respectively, which includes the acquisition of West Coast Beauty Supply.

During the quarter, the company returned to a one share-one vote capital structure by completing the conversion to a single class of stock. The company since 1986 had two publicly traded classes of common stock. Mr. Bernick commented at the shareholders meeting that this share conversion “simplifies our capital structure, increases the liquidity of our shares, makes us a much more attractive investment to institutions around the world, and further enhances our good corporate governance.”