SBH - Sally Beauty Holdings Inc. (SBH) Q1 2024 Earnings Call Transcript

2024-02-01 16:55:27 ET

Sally Beauty Holdings, Inc. (SBH)

Q1 2024 Earnings Conference Call

February 1, 2024 8:30 AM ET

Company Participants

Jeff Harkins - Vice President, Investor Relations and Treasurer

Denise Paulonis - President and Chief Executive Officer

Marlo Cormier - Chief Financial Officer

Conference Call Participants

Korinne Wolfmeyer - Piper Sandler

Ashley Helgans - Jefferies

Simeon Gutman - Morgan Stanley

Olivia Tong - Raymond James

Oliver Chen - TD Cowen

Linda Bolton-Weiser - DA Davidson

Presentation

Operator

Good morning, everyone, and welcome to Sally Beauty Holdings Conference Call to discuss the Company's First Quarter Fiscal 2024 Results. All participants have been placed into a listen-only mode. After management prepared remarks, there will be a question-and-answer session. Additional instructions will be given at that time.

Now, I would like to turn the call over to Jeff Harkins, Vice President of Investor Relations and Treasurer for Sally Beauty Holdings.

Jeff Harkins

Thank you. Good morning everyone, and thank you for joining us. With me on the call today are Denise Paulonis, President and Chief Executive Officer; and Marlo Cormier, Chief Financial Officer.

Before we begin, I would like to remind everyone that management's remarks on this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the Risk Factors section of our most recent annual report on Form 10-K and other filings with the SEC. Any forward-looking statements made on this call represent our views only as of today, and we undertake no obligation to update them. The company has provided a detailed explanation and reconciliations of its adjusting items and non-GAAP financial measures in its earnings press release and on its website.

Now, I'd like to turn the call over to Denise to begin the formal remarks.

Denise Paulonis

Thank you, Jeff and good morning everyone. We're pleased with our start to fiscal 2024, marked by financial performance that was in line with our forecast. First quarter net sales of $931 million declined 2.7%, primarily reflecting the lapping of store closures that occurred in December 2022. While comparable sales declined 0.8% in the quarter....

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