2023-05-04 06:48:34 ET
- Sally Beauty press release ( NYSE: SBH ): Q2 Non-GAAP EPS of $0.41 beats by $0.04 .
- Revenue of $918.71M (+0.8% Y/Y) beats by $29.71M .
- Consolidated comparable sales increased 5.7%;
- Global e-commerce sales increased 9% to $87 million, representing 9.5% of net sales;
- GAAP gross margin at 51.0%; Adjusted Gross Margin at 50.7%;
- GAAP operating earnings of $71 million and GAAP operating margin of 7.8%; Adjusted Operating Earnings of $76 million and Adjusted Operating Margin of 8.3%.
- 2023 Guidance: Comparable sales, notwithstanding a notable change in consumer behavior, are expected to increase by low single digits compared to the prior year, driven by growth in key categories, sales transfer from store closures related to the Company’s store optimization efforts, the expanded Regis distribution and new strategic initiatives;
- Net sales are expected to decline by low-single digits compared to the prior year, reflecting the unfavorable impact due to store closures from the Company’s store optimization efforts, net of expected sales recapture rates, and the anticipated unfavorable impact from foreign exchange headwinds;
- Gross margin is expected to remain above 50%; and
- Adjusted Operating Margin is expected to be in the range of 8.5% and 9.5%, inclusive of investment in store labor as the Company focuses on elevating the expertise of its associates to drive growth in the coming years.
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Sally Beauty Non-GAAP EPS of $0.41 beats by $0.04, revenue of $918.71M beats by $29.71M