Sally Beauty Hldgs - SBH STOCK NEWS

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.

Sally Beauty Holdings, Inc. (NYSE:SBH) will host a conference call and webcast on August 4, 2022, at 7:30 a.m. Central Time to discuss its third quarter financial results. The press release detailing these results is expected to be available before U.S. markets open on the same day. Investors can join the call by dialing (844) 867-6169 or via the webcast at sallybeautyholdings.com/investor-relations. A replay of the call will be accessible from August 4 to August 18, 2022.

Sally Beauty Holdings, Inc. (NYSE: SBH) has successfully repaid the full balance of $300 million on its 8.75% senior secured notes due 2025. The repayment was made using excess cash and $150 million borrowed from its ABL credit facility. CFO Marlo Cormier highlighted that these senior notes, issued during the pandemic, were no longer necessary. Since September 2020, the company has managed to pay down over $1 billion in debt, reflecting significant progress on its balance sheet and leverage ratio.

Nailboo, a leading DTC brand in the nail category, has partnered with Sally Beauty as its first retail partner, expanding its presence in the market. The partnership includes the exclusive launch of the Nailboo Dip Starter Kit, Dip Powder Shades, and Max Gloss Polish, now available across 2,700 stores in the U.S. and Canada. Since its launch in 2020, Nailboo has grown over 100% each year and attracted more than 400,000 customers. This collaboration marks a significant milestone for Nailboo as it aims to enhance its retail footprint while catering to the growing DIY beauty trend.

Sally Beauty Holdings (NYSE: SBH) reported Q2 2022 financial results, showing a 1.6% decrease in consolidated net sales at $911 million. Despite supply chain pressures, Adjusted Diluted EPS was $0.47, down from $0.57 YoY. Gross margin improved to 51.1%, while operating margin was 9.5%. The company repurchased 3.2 million shares for $55 million. Future guidance indicates flat to 2% decline in net sales, with an expected operating margin of 11.0% for FY 2022.