Sally Beauty Holdings has announced its financial results for the fourth quarter and fiscal year ended September 30, 2017.
According to the company, net sales for Q4 2017 were $974.2 million, a decrease of 0.2% when compared to Q4 2016.
Sally Beauty Supply saw Q4 2017 net sales reach $584.4 million, a decrease of 0.8% versus Q4 2016 net sales. Beauty Systems Group's net sales for Q4 2017 were $389.8 million, an increase of 0.7% over Q4 2017.
For Fiscal Year 2017, the company's net sales reached $3.94 billion, a decrease of 0.4% compared to Fiscal Year 2016.
Sally Beauty Supply's net sales for FY 2017 reached $2.35 billion, a decrease of 1.7% versus FY 2016. Beauty Systems Group's net sales for FY 2017 were $1.59 billion, an increase of 1.7% over FY 2016.
Chris Brickman, president and CEO, stated, "Even after considering the challenges created by the natural disasters in the quarter, which impacted August and September, our revenue fell short of our expectations. However, the modest decline in consolidated net sales was offset by the successful completion of our 2017 restructuring plan, tight control of discretionary expenses, the successful refinancing of a large portion of our long-term debt and the continued use of our strong cash flows to acquire shares of our common stock."