Alberto-Culver
This article was originally published in The Rose Sheet
Executive Summary
Net sales edged up 2.5% to $467.5 mil. in the FY third quarter (ended June 30), the company announced July 23. Net earnings for the quarter rose 10.1% to $21.2 mil. Sally Beauty Company had "another solid quarter," Alberto said, having "entered the Canadian market for the first time with its Beauty Systems Group acquiring two distributors based in Ontario" ("The Rose Sheet" July 13, In Brief). Sally added 34 new stores during the quarter, bringing its total to 1,960 stores in the U.S., U.K., Germany, Japan and Canada. Through nine months, sales rose 3.5% to $1.37 bil., but earnings decreased 5% to $60.4 mil. after a $3 mil. pre-tax charge taken in the second quarter related to the closing of a manufacturing facility in Holland...