02.03.23
Consolidated net sales for Sally Beauty Holdings, Inc. was $957 million, a decrease of 2.4% compared to the prior year, for the first quarter ended Dec. 31, 2022.
The decrease was driven primarily by the previously announced store closures and unfavorable foreign exchange impact, company officials said.
Consolidated comparable sales increased 1.1% and global e-commerce sales increased 14% to $91 million, representing 9.5% of net sales.
“We are pleased with our first quarter results, which reflect strong execution from our teams and a continuing focus on our strategic initiatives designed to inspire a more colorful, confident and welcoming world,” said Denise Paulonis, president and chief executive officer. “During the first quarter, we delivered net sales of $957 million, adjusted gross margin of 51% and adjusted EBITDA of $126 million. In addition, we successfully implemented our distribution center consolidation and store optimization plan, furthering our goal to maximize the value of our large real estate portfolio, optimize our supply chain and provide a seamless omni-channel experience to our customers.”
She continued, “As we execute on our growth agenda, we remain focused on serving our customers and bringing a heightened level of education, expertise, innovation and services to both our Sally and BSG businesses. We remain confident that our initiatives will enable us to drive long-term growth and shareholder value.”