Banc of America Consumer Conference In Brief
This article was originally published in The Rose Sheet
Executive Summary
Alberto-Culver: Professional line created in house for distribution by Beauty Systems Group is attractive strategic opportunity, President and CEO Howard Bernick suggests at Banc of America Securities Conference in New York April 8-10. The salon-only product network is "under-exploited" as "incubator" for new Alberto brands in the professional field, according to Bernick, who predicted division's pre-tax earnings will increase 8% in 2002 compared to 7% last year. Alberto previously announced goal of 10% earnings growth and $1 bil. in sales for BSG in the next 3-5 years from its current $550 mil. in revenues. Company forecasts overall double-digit sales and earnings gains for second quarter ended March 31...