Sally Beauty Holdings has released its fourth quarter results, which showed net consolidated net sales were $921 million, a decrease of 4.3% compared to the previous year. Fiscal year 2023 results showed consolidated net sales were $3.73 billion, a decrease of 2.3% compared to the previous year.
Global e-commerce sales were $87 million, representing 9.4% of net sales.
Gross profit was $466.7 million, as compared to $463.5 million in the previous year.
The company was operating 308 fewer stores at the end of the quarter compared to the previous year.
Consolidated gross profit was $466.6 million, as compared to $463.5 million in the previous year, an increase of 0.7%.
Sally Beauty Supply reported net sales of $524.6 million in the quarter, a decrease of 5.3% compared to the previous year. Segment e-commerce sales were $32 million or 6.1% of segment net sales for the quarter.
Fiscal Year 2023
Global e-commerce sales were $348 million, representing 9.3% of net sales.
Gross profit was $1.89 billion, as compared to $1.91 billion in the previous year.
Denise Paulonis, president and CEO, said, "We are pleased to report full year financial results in line with the expectations we laid out at the beginning of fiscal 2023. We drove a comparable sales gain, maintained healthy gross margins and generated strong cash flow from operations against a rapidly shifting backdrop. We also advanced our consumer-centric strategies during the year, launching new concepts and bringing new services to the market, while delivering unparalleled product innovation to both our Sally and BSG customers. Our teams are executing well on our strategic initiatives designed to reignite top line growth and improve profitability—enhancing our customer centricity, growing our high margin own brands and amplifying innovation, and increasing the efficiency of our operations. Building on our strong foundation, we are focused on the future and remain committed to creating value for our shareholders."