Sally Beauty Q2 sales drop 1.1%

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Sally Beauty Q2 sales drop 1.1%: Sally Beauty Holdings Inc., a provider of hair and beauty supplies to professionals, reported net sales of $908 million for the second quarter ended March 31, 2024, a decline of 1.1% year over year, on Thursday.

 

There was a 1.1% decline in Sally Beauty second quarter sales. Dear Sally,

While Beauty Systems Group’s increased distribution, product innovation, and increasing salon demand trends helped to offset Sally Beauty’s soft traffic and consumer spending trends, the Denton, Texas-based firm reported a 1.5% fall in comparable sales.

As a whole, the company’s sales for the quarter came to $513.2 million, down 3.2% year over year, but the net sales for the Beauty Systems Group were $395.1 million, up 1.7%. Online sales accounted for $90 million, or 9.9 percent, of total sales worldwide.

Fiber Manual Record for ADS

The advantages of increased distribution, new product development, and stronger salon demand trends in the Beauty Systems Group segment contributed to our second quarter performance, while the inflationary environment caused a moderating effect on traffic and customer purchasing patterns in the Sally Beauty segment,” stated Denise Paulonis, president and chief executive officer.

“Our teams persisted in advancing our strategic initiatives and providing engaging customer experiences despite these challenges, all while focusing on driving long-term growth and profitability.”

In terms of the future, the company’s projections for net sales and comparable sales remain relatively unchanged from last year.


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Mia Collins

Mia's love for beauty innovation and her insights into modern lifestyle choices make her the go-to writer for readers seeking to stay ahead of the style curve.

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