Sally Beauty Holdings Q3 profit surges 68%
New York City -- Sally Beauty Holdings on Thursday said that its fiscal third-quarter profit increased 68% as sales rose while it held its expenses in line.
The beauty retailer posted net income of $69.1 million for the three months ended June 30, compared with $41.1 million a year earlier. Revenue rose 13% to $837 million.
Sales at Sally Beauty Supply stores rose 11% to $517.2 million. Same-store sales gained 6.1%. The division had 3,123 stores at the end of the quarter.
The company's Beauty Systems Group, which operates stores under the CosmoProf and Armstrong McCall banners, reported a 16% increase in sales to $319.4 million. Same-store sales rose 5.3%. The division had 1,139 stores and 1,127 distributor sales consultants at the end of the quarter.