Sally Beauty Holdings, Inc. - SBH STOCK NEWS

Sally Beauty Holdings (NYSE: SBH) announces a leadership transition as Robert McMaster steps down as Board Chair and will not seek re-election at the January 26, 2023, Annual Meeting. Diana Ferguson, an Independent Director since 2019, will succeed him as Chair. Other Board members, Ed Rabin, Marshall Eisenberg, and John Miller, are also retiring. The company emphasizes its commitment to sustainable growth and value creation as it continues to enhance Board expertise following the 2022 appointments of new members.

Cosmo Prof, a leading distributor of salon products, is partnering with SalonHQ to launch a new e-commerce platform aimed at empowering beauty professionals. This free, customizable platform enables stylists to establish their own online storefronts, allowing them to sell products 24/7 without the burden of managing inventory or fulfillment. This initiative addresses the need for stylists to enhance their retail sales and connect with clients more effectively. The program is currently in pilot testing to gather insights before broader implementation.

Sally Beauty Holdings reported Q4 results with a GAAP diluted EPS of $0.20 and an adjusted EPS of $0.50. Net sales decreased by 2.8% to $962 million, impacted by a non-cash inventory write-down of $19.4 million. The company plans to close 350 stores to enhance operations and expects fiscal 2023 net sales to decline by low-single digits. Adjusted operating margin is projected between 8.5% and 9.5%. Despite these challenges, the company aims for long-term growth with strategic initiatives focusing on customer centricity and brand expansion.

Sally Beauty Holdings (NYSE:SBH) announced a virtual annual meeting of stockholders scheduled for January 26, 2023, at 9:00 a.m. Central Time. The record date for stockholder voting is set for November 28, 2022. The Company will also host a conference call and webcast on November 10, 2022, at 7:30 a.m. Central Time, to discuss its fourth quarter and full year financial results. A detailed earnings report will be available prior to the market opening on the same day.

Sally Beauty has launched bondbar, a new line of pro-quality bonding technology products aimed at all hair types. Announced on October 24, 2022, the line features a four-step system that addresses hair damage at an accessible price. Key benefits include up to 70% reduced breakage and 90% improvement in wet detangling. Each product is cruelty-free, vegan, and sustainably packaged. The initiative is driven by the rise in DIY hair care and the demand for effective bonding solutions that provide quality and value.

Cosmo Prof, a leading distributor of salon products, is hosting its second virtual event, Color the World, featuring renowned educators and brands. The event aims to enhance stylist skills with expanded curriculum covering various aspects including hair color, skincare, and barbering. Notable figures like Chris Appleton and Tashara Parker will participate, with Spanish classes added for inclusivity. Also included is a competition with $1500 in prizes. Participants can attend virtually or in-person at select locations, reinforcing Cosmo Prof's commitment to education in the professional beauty industry.

Sally Beauty has announced the winners of its third annual Cultivate accelerator program, which supports small businesses by connecting them with consumers. The selected brands, LUXXI and Juices & Botanics, will be available in stores and online starting January 2023. LUXXI specializes in vegan press-on nails, while Juices & Botanics focuses on innovative hair care products. Each winner receives $15,000 in funding and a 12-month mentorship. This initiative reinforces Sally Beauty's commitment to championing emerging brands in the beauty industry.

Sally Beauty Holdings (SBH) reported Q3 fiscal 2022 results with a net sales decrease of 6.0% to $961 million and a comparable sales decline of 3.6%. While GAAP diluted EPS stood at $0.43, the adjusted EPS was $0.55. Gross margin improved to 51.0%, up 70 basis points year-over-year. The company repaid $300 million in senior secured notes, enhancing financial flexibility. However, ongoing inflation and supply chain issues impacted performance. The updated guidance forecasts a 2% decline in net sales for the fiscal year.