Sally Beauty Holdings, Inc. - SBH STOCK NEWS

Sally Beauty has announced the appointment of Brenda Rutenber as Group Vice President of Stores and the promotion of Maryann Herskowitz to Group Vice President of Merchandising. These leadership changes aim to enhance the company's omni-channel experience and strengthen its product offerings in Hair Color, Hair Care, and Nails. Rutenber brings extensive experience in integrating in-store and online shopping, while Herskowitz's focus will be on expanding Sally Beauty's owned brand portfolio and meeting customer needs. CEO Chris Brickman calls these moves strategic investments for continued growth.

Sally Beauty has significantly expanded its hair color range, introducing over 60 new shades from exclusive brands like Ion and Iroiro, alongside popular names such as Good Dye Young and Wella. This enhancement positions Sally Beauty as the largest omni-channel retailer for hair color, boasting over 1,200 shades. The initiative aims to cater to the growing DIY hair color trend accelerated by the pandemic. Customers can also access virtual color trials via ColorView AI technology and educational resources through DIY University, offering hands-on learning for at-home hair coloring.

Sally Beauty Holdings announced the distribution of four brands from its 2020 Cultivate Cohort, empowering female-founded beauty brands. The selected brands, Peculiar Roots, UniQurl, Pattie Yankee Products, and True + Pure Texture, will be available in select stores and online. The program grants the brands a total of $60,000 and access to a retail readiness boot camp. Sally Beauty aims to support emerging female entrepreneurs, continuing its legacy of promoting women-owned brands since 2018. This initiative underscores Sally Beauty's commitment to diversifying its product offerings in the beauty market.

Sally Beauty Holdings (NYSE: SBH) announced the full repayment of $197 million on its 5.50% senior unsecured notes due 2023 on April 1, 2021. This repayment was made using excess cash, showcasing the company's commitment to deleveraging its balance sheet. As of March 31, 2021, Sally Beauty had approximately $375 million in cash and no outstanding balance on its revolving credit line. Since September 2020, the company has successfully reduced its debt by over $850 million, indicating strong liquidity and effective management during the COVID-19 pandemic.

Sally Beauty Holdings (NYSE: SBH) announced the appointment of Kim McIntosh as Group Vice President, Controller, and Chief Accounting Officer. McIntosh brings extensive experience from her prior role at Tailored Brands, Inc., where she served as Chief Accounting Officer and Vice President, Corporate Controller. Her background includes general accounting, financial reporting, and payroll management. CFO Marlo Cormier expressed confidence that McIntosh's retail industry knowledge will support the company's growth strategy.

Sally Beauty Holdings (NYSE: SBH) announced its participation in the Raymond James Institutional Investors Conference, scheduled for March 2, 2021, at 10:00 AM ET. Key executives, including CEO Chris Brickman and CFO Marlo Cormier, will present insights on the company’s performance and future outlook. The presentation will be available via livestream. Sally Beauty is a leading distributor of professional beauty supplies, operating over 5,000 stores globally, including renowned proprietary and professional brands.

Sally Beauty (NYSE: SBH) launched a platform to connect the Black and textured hair community, starting in Black History Month. The initiative features over 100 brands, including 50 Black-founded brands in various beauty categories. Sally Beauty has been proactive in distributing textured hair care brands and supporting emerging companies through its Cultivate program. Additionally, the company will expand its DIY University platform with virtual classes, enhancing consumer engagement and education in textured hair care.

Sally Beauty Holdings, Inc. (NYSE: SBH) reported its first-quarter financial results for fiscal 2021, showing a 3.7% decline in same-store sales, primarily due to COVID-19 impacts, including store closures and capacity restrictions. Global e-commerce sales surged 48%, and gross margin improved to 50.3%, up 190 basis points year-over-year. GAAP diluted EPS rose 11% to $0.50, while adjusted EPS increased 6%. The company maintained a robust liquidity position with $538 million in cash and no outstanding debt on its credit line.

Sally Beauty Holdings, Inc. (NYSE: SBH) announced the election of James M. Head to its Board of Directors during the Annual Meeting of stockholders. Bob McMaster, Chairman of the Board, expressed confidence in Head's financial and strategic experience to enhance the Company’s direction. Mr. Head has been a Partner at BDT & Company since 2016 and previously worked at Morgan Stanley for 22 years in various executive roles, including in Mergers and Acquisitions. Sally Beauty operates over 5,000 stores globally, offering a wide range of beauty products.