Sally Beauty Holdings, Inc. (NYSE: SBH) (the "Company") today announced financial results for the fourth quarter and fiscal year ended September 30, 2016. The Company will hold a conference call today at 10:00 a.m. (Central) to discuss these results and its business. "We achieved solid results with full-year adjusted EPS growth of 12%," said Chris Brickman, President and CEO. "Consolidated same store sales grew almost 3% percent and gross margin expanded 20 basis points despite the unfavorable impact from foreign currency. Cash from operations of $351 million enabled us to invest in the business and return a substantial portion to our shareholders. During the year, we opened 152 net new stores and continued to buy our stock, acquiring 7.8 million shares totaling $207 million. "Looking ahead to 2017, we are excited about our sales driving initiatives in both businesses," Brickman added. "In Sally, our in-store investments are mostly behind us and the Sally team is focused on the next phase of customer conversion and engagement. We believe our BSG business will continue to gain channel share and work towards becoming the indisputable partner of choice for stylists and manufacturers. Our 2017 financial goals are straightforward. We expect revenue improvement from consolidated same store sales growth of approximately 3% and organic store openings of 2% to 3%. Gross margin expansion is anticipated to be 30 to 40 basis points and should offset higher SG&A expenses resulting from the headwinds in labor and IT investments. We believe the combination of sales growth and gross margin expansion will lead to mid-single digit operating earnings growth. "Our focus is on delivering these straightforward targets in 2017 and building on that momentum as labor cost inflation and IT spending tapers off in future years. This should allow for SG&A leverage and higher operating earnings growth over time," Brickman concluded.