Sally Beauty has announced its financial results for the fourth quarter and fiscal year ended September 30, 2018.
The Texas-based retailer saw same-store sales fall 0.2 percent in the final quarter, while net stores were down 0.8 percent compared to the same period in the prior year. However, e-commerce sales continued to rise, up 30.1 percent versus 2017, and EPS was up 70.4 percent to US$0.46.
“As our quarterly results demonstrate, we are making solid progress on our transformation plan. Sally Beauty Supply launched box color across the US, while Beauty Systems Group signed distribution agreements with additional prestigious hair color and care brands, efforts which further enhance our differentiated categories of hair color and care,” said Chris Brickman, President and CEO.
“We are playing to win by re-focusing our business around our differentiated core of hair color and care, improving our execution of basic retail fundamentals and advancing our digital commerce capabilities. We are continuing to drive costs out of the business, which is enabling investment in our transformation. We recognize that we still have work to do. With our key accomplishments from the quarter and the recent management changes we have implemented, we are confident that we are moving in the right direction,” Brickman concluded.
The company revealed plans to up its e-commerce and mobile commerce capabilities in 2019 as well as pilot the first phase of the JDA platform implementation.