05.09.24
Consolidated net sales for Sally Beauty Holdings were $908 million in Q2 2024, a decrease of 1.1% compared to the prior year.
Consolidated comparable sales experienced a decline of 1.5%. Global e-commerce sales were $90 million, representing 9.9% of net sales.
“Our second quarter performance reflects the benefits of expanded distribution, product innovation and the strengthening of salon demand trends in our Beauty Systems Group segment, offset by moderating traffic and customer purchasing patterns in our Sally Beauty segment resulting from the inflationary environment,” said Denise Paulonis, president and CEO. “Amidst these cross-currents, our teams continued to advance our strategic initiatives and deliver engaging experiences for our customers as we focus on driving long-term growth and profitability.”
Paulonis added the company optimized its balance sheet by refinancing its $680 million senior unsecured note due 2025, which extended the maturity to 2032. It also generated solid cash flow from operations of $37 million in the quarter, allowing it to return value to shareholders through its share repurchase program.