“We are making steady progress against our transformation plan and remain on track with our plans for the remainder of the fiscal year,” said Chris Brickman, president and chief executive officer. “Our North American retail business, within Sally Beauty Supply, has been leading the charge with respect to our refocus on color and care, our pricing and promotional changes, our new loyalty program and other elements of our owned brand, new product and store execution change agenda. As a result, that business had improved holiday performance on both the top and bottom line.
“At the same time, our Beauty Systems Group team made solid progress improving our in-stock position on key brands while launching differentiated new products. These efforts, which are already underway, combined with ongoing changes to our marketing and promotional approach, will contribute to improved sales and margin performance over time,” Brickman concluded.