DENTON, Texas–(BUSINESS WIRE)–Sally Beauty Holdings, Inc. (NYSE: SBH) (“the Company”), the leader in professional hair color, today announced financial results for its third quarter ended June 30, 2021. The Company will hold a conference call today at 7:30 a.m. Central Time to discuss the results.
Fiscal 2021 Third Quarter Summary
- Consolidated net sales of $1.02 billion with a same store sales increase of 44.7%, primarily reflecting strong consumer demand in the U.S. and the easing of COVID-19 restrictions globally;
- Global e-commerce sales were $71 million, representing 7.0% of net sales;
- Gross margin of 50.3%, up 470 basis points compared to the prior year;
- GAAP operating earnings of $127 million and GAAP operating margin of 12.5%, Adjusted Operating Earnings of $129 million and Adjusted Operating Margin of 12.6%;
- GAAP diluted net earnings per share of $0.66 and Adjusted Diluted Net Earnings Per Share of $0.68, up 414% and 718%, respectively, compared to the prior year;
- Strong liquidity position, cash and cash equivalents of $270 million, reduced debt levels by $205 million with a zero balance outstanding under the $500 million asset-based revolving line of credit at quarter end.
“We are pleased to report another strong quarter, which was driven by strengthening consumer demand and solid execution by our teams,” said Chris Brickman, president and chief executive officer. “The combination of improving macro factors in the U.S. and the easing of COVID-19 restrictions across our international territories, drove net sales over $1 billion. Our top line performance,