Sally Beauty Holdings, Inc. (NYSE: SBH) (the “Company”) today announced financial results for the fourth quarter and fiscal year ended September 30, 2013. The Company will hold a conference call today at 10:00 a.m. (Central) to discuss these results and its business.
“Fiscal 2013 was challenging due to comparisons against our record-breaking growth in fiscal 2012 and soft traffic in our Sally U.S. retail business,” stated Gary Winterhalter, Chairman, President and Chief Executive Officer. “Nevertheless, our performance was solid and we executed on our strategic initiatives, including our information technology projects in the U.S. and Europe as well as the new U.K. distribution center. For 2013, we generated $310 million in operating cash flow and repurchased approximately $510 million, or 19 million shares of our common stock. As we move into fiscal 2014, I believe that we’ve embarked on the right initiatives to gradually improve retail traffic in the Sally U.S. stores and continue the strong performance at BSG and our International businesses.”
Fiscal 2013 Fourth Quarter and Full Year 2013 Financial Highlights
For the fiscal 2013 fourth quarter, consolidated net sales were $906.4 million, an increase of 2.7% from the fiscal 2012 fourth quarter. The fiscal 2013 fourth quarter sales increase is primarily attributed to the addition of new stores and growth in BSG’s full service business. The impact from changes in foreign currency exchange rates in the fiscal 2013 fourth quarter was not material. Consolidated same store sales growth in the fiscal 2013 fourth quarter was 0.4% compared to 4.3% in the fiscal 2012 fourth quarter.
Consolidated net sales for fiscal year 2013 were over $3.6 billion, an increase of 2.8% from fiscal year 2012. The impact from foreign currency exchange in the 2013 fiscal year was not material. Fiscal 2013 sales increased primarily due to the addition of new stores and same stores sales growth. Consolidated same store sales growth in fiscal year 2013 was 0.8% compared to 6.4% in fiscal year 2012.