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28 February, 2024 17:43 IST
Sally Beauty Holdings second-quarter earnings decline by 5.26 percent on a YOY basis
Source: IRIS | 02 Jun, 2017, 07.26PM

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Sally Beauty Holdings, Inc. (SBH) has reported 5.26 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $56.99 million, or $0.40 a share in the quarter, compared with $60.16 million, or $0.41 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $62.70 million, or $0.44 a share compared with $61.26 million or $0.41 a share, a year ago.  

Revenue during the quarter went down marginally by 1.39 percent to $966.47 million from $980.07 million in the previous year period. Gross margin for the quarter expanded 77 basis points over the previous year period to 50.50 percent. Total expenses were 87.68 percent of quarterly revenues, up from 87.51 percent for the same period last year. That has resulted in a contraction of 18 basis points in operating margin to 12.32 percent.

Operating income for the quarter was $119.04 million, compared with $122.46 million in the previous year period.

However, the adjusted operating income for the quarter stood at $128.25 million compared to $124.24 million in the prior year period. At the same time, adjusted operating margin improved 59 basis points in the quarter to 13.27 percent from 12.68 percent in the last year period.

"Our financial results in the second quarter reflect our teams sharp focus on gross margin management and operating expense discipline, both of which enabled us to deliver solid mid-single digit growth in adjusted operating income and even stronger growth in adjusted earnings per share” stated Chris Brickman, the Companys president and chief executive officer. “Store traffic was especially challenging in January and February, but improved in the last month of the quarter. Additionally, revenue performance in April - the first month of our third fiscal quarter - was in line with the expectations that are included in the full year revenue guidance being communicated today. We are focused on ‘controlling the things we can control’ and, most importantly, on profitable growth. As such, I was very pleased with the earnings delivery in the quarter."

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