Sally Beauty Q2 sales drop 1.1%

Professional hair and beauty supply company Sally Beauty Holdings Inc. announced on Thursday net sales of $908 million for its second quarter ended March 31, 2024, down 1.1% compared to the prior year.

The Denton, Texas-based company said comparable sales declined 1.5%, primarily reflecting soft traffic and consumer purchasing trends at Sally Beauty partially offset by expanded distribution, product innovation and improving salon demand trends at Beauty Systems Group.

The company’s Sally Beauty Supply sales were $513.2 million in the quarter, a decrease of 3.2% compared to the prior year, while its Beauty Systems Group net sales were $395.1 million in the quarter, up 1.7%. Global e-commerce sales were $90 million, representing 9.9% of net sales.

“Our second quarter performance reflects the benefits of expanded distribution, product innovation and the strengthening of salon demand trends in our Beauty Systems Group segment, offset by moderating traffic and customer purchasing patterns in our Sally Beauty segment resulting from the inflationary environment,” said Denise Paulonis, president and chief executive officer. 

“Amidst these cross-currents, our teams continued to advance our strategic initiatives and deliver engaging experiences for our customers as we focus on driving long-term growth and profitability.”

Looking ahead, the company continues to expect net sales and comparable sales to be approximately flat compared to the prior year.