8-K
filed November 10, 2022, 6:59 PM ET
ticker SBH
CIK 0001368458
earnings
confidence high
sentiment negative
materiality 0.75
Sally Beauty Q4 net sales down 2.8%; GAAP EPS $0.20; plans 350 store closures
Sally Beauty Holdings, Inc.
2022-FY EPS reported
$1.66
revenue$3,815,565,000
- Q4 GAAP diluted EPS $0.20 vs $0.59 prior year; adjusted EPS $0.50 vs $0.64. Revenue $962.5M, -2.8% YoY.
- GAAP operating margin 4.1%; adjusted operating margin 8.7%. Gross margin down 240 bps to 48.2% due to $19.4M inventory write-down.
- Accelerating store optimization: ~350 closures (mostly Sally Beauty US) and two DC closures, expected $50M expense savings, ~$10M benefit to FY23 adjusted operating earnings.
- FY2023 guidance: comparable sales up low single digits; net sales down low single digits; adjusted operating margin 8.5%-9.5%.
- Long-term outlook: low- to mid-single-digit net sales growth, gross margins above 50%, low double-digit operating margins.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Sally Beauty Holdings, Inc. reported Fiscal Year 2022 results: revenue Consolidated net sales of $3.82 billion, EPS GAAP diluted net earnings per share of $1.66 and Adjusted Diluted Net Earnings Per Share of $2.16.
- Period
- Fiscal Year 2022
- Revenue
- Consolidated net sales of $3.82 billion
- EPS
- GAAP diluted net earnings per share of $1.66 and Adjusted Diluted Net Earnings Per Share of $2.16
- Result
- reported results
Exact text from the filing
Fiscal 2022 Full Year Summary • Consolidated net sales of $3.82 billion, a decrease of 1.5%, with a comparable sales increase of 0.6%; • Global e-commerce sales were $333 million, representing 8.7% of net sales; • GAAP gross margin decreased 10 basis points to 50.3% and Adjusted Gross Margin expanded 30 basis points to 50.9%; • GAAP operating earnings of $ 338 million and GAAP operating margin of 8 .8%, Adjusted Operating Earnings of $ 39 1 million and Adjusted Operating Margin of 1 0.3 %; • GAAP diluted net earnings per share of $1.66 and Adjusted Diluted Net Earnings Per Share of $2.16; and • Repurchased 6.8 million shares at an aggregate cost of $130.3 million and completed full repayment of $300 million of 8.75% senior secured notes.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Sally Beauty Holdings, Inc. reported Q4 Fiscal 2022 results: revenue Consolidated net sales of $962 million, EPS GAAP diluted net earnings per share of $0.20 and Adjusted Diluted Net Earnings Per Share of $0.50.
- Period
- Q4 Fiscal 2022
- Revenue
- Consolidated net sales of $962 million
- EPS
- GAAP diluted net earnings per share of $0.20 and Adjusted Diluted Net Earnings Per Share of $0.50
- Result
- reported results
Exact text from the filing
Fiscal 2022 Fourth Quarter Summary • Consolidated net sales of $962 million, a decrease of 2.8%, with comparable sales flat to the prior year; • Global e-commerce sales of $90 million, representing 9.3% of net sales; • GAAP gross margin decreased 240 basis points to 48.2%, driven primarily by a non-cash inventory write-down of $19.4 million related to the distribution center consolidation and store optimization plan; Adjusted Gross Margin decreased 60 basis points to 50.1%; • GAAP operating earnings of $39 million and GAAP operating margin of 4.1%, Adjusted Operating Earnings of $84 million and Adjusted Operating Margin of 8.7%; and • GAAP diluted net earnings per share of $0.20 and Adjusted Diluted Net Earnings Per Share of $0.50.
View on SEC.gov
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