Salon supplies distributor's sales, profit up
Bloomberg News
Sally Beauty operates more than 2,700 retail stores and 700 shops serving salons and professionals. A third of U.S. revenue is generated by sales to salon professional customers. Shares rose 15.3 percent.
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Sally Beauty Holdings, the largest distributor of professional beauty supplies in the U.S. by store count, said second-quarter profit advanced to $12.4 million. Its shares (ticker: SBH) gained 88 cents, or 15.3 percent, to $6.64.
Net income rose to 7 cents a share for the three months ended March 31 from $11 million, or 6 cents, a year earlier, the company said Thursday in a statement distributed by Business Wire.
Analysts Linda Bolton Weiser of Caris & Co. and Joseph Altobello of Oppenheim & Co. each predicted 7 cents.
Denton-based Sally Beauty, spun off by Alberto-Culver Co. in 2006, said revenue increased 5.6 percent to $643.3 million.
Same-store sales advanced 2.8 percent.
