Sales Rise 5% for Sally Beauty

Posted on November 20, 2008 @ 04:12 pm

Sally Beauty Holdings' sales rose 5.3% to $2.6 billion in fiscal 2008. Net earnings jumped more than 74% to $77.6 million

“Sally Beauty Holdings had solid results in fiscal 2008, ending the year with same store sales up 2.6%, gross margin expansion of 70 basis points, and significant net earnings growth,” stated Gary Winterhalter, president and chief executive officer. “We are pleased with the progress we made towards our strategic goals to grow the business and increase profits, while maintaining strong cash flow. And although we are not recession proof, our history of resiliency in a down economy, combined with our strong management team, gives me confidence we will have another successful year in 2009.”