Sally Beauty Holdings has announced its second quarter 2022 results that showed consolidated net sales were $911 million, a decrease of 1.6% compared to the previous year.
Global e-commerce sales for the quarter were $81 million, representing 8.9% of net sales.
Consolidated gross profit for the second quarter was $465.3 million, compared to $467.2 million in the previous year.
Net earnings for the quarter were $46.8 million, compared to $38.3 million in the previous year.
Sally Beauty Supply
Segment net sales were $525.8 million in the quarter, a decrease of 3.1% compared to the previous year.
Segment comparable sales decreased 0.5% in the second quarter.
Beauty Systems Group
Segment net sales were $385.6 million in the quarter, an increase of 0.5% as compared to the previous year.
Segment comparable sales increased 1.3% in the second quarter.
Six-month Results
Consolidated net sales for the six months ending March 31, 2022 were $1.89 billion, compared to $1.86 billion in the previous year.
Fiscal Year 2022 Guidance
Sally Beauty has revised its full year guidance for fiscal year 2022.
Net sales are expected to be flat to down 2% compared to the previous year.
Net store count is expected to decrease by approximately 1% to 2% for the fiscal year, reflecting the company’s focus on optimizing its store portfolio.
Denise Paulonis, president and chief executive officer, said, "After a strong start to the year, we experienced greater than expected pressure on the top line as supply chain and inflationary challenges intensified in the back half of the quarter and we lapped the stimulus benefits of 2021. While these factors impacted net sales, we delivered healthy gross margins above 51% and adjusted earnings per share of $0.47. As we navigate the ongoing macro environment, we remain confident in the underlying strength of our business and the resiliency of our core color and care customers. Our teams are continuing to focus on our four key growth pillars, which include leveraging our digital platform, driving loyalty and personalization, delivering product innovation and optimizing our supply chain. Importantly, our strong balance sheet allowed us to continue investing for growth while returning value to shareholders through our share repurchase program during the quarter.”
