---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-22-037281"
form_type: "8-K"
ticker: "SBH"
cik: "0001368458"
company_name: "Sally Beauty Holdings, Inc."
filed_at: "2022-11-10T23:59:59+00:00"
generated_at: "2026-06-21T22:33:13.530841+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sally Beauty Q4 net sales down 2.8%; GAAP EPS $0.20; plans 350 store closures

## Summary
- 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.

## SEC filing metadata
- accession: 0001564590-22-037281
- form_type: 8-K
- ticker: SBH
- cik: 0001368458
- company_name: Sally Beauty Holdings, Inc.
- filed_at: 2022-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1368458/000156459022037281/0001564590-22-037281-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1368458/000156459022037281/sbh-8k_20221110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-22-037281
- JSON: https://secwatch.observer/filing/0001564590-22-037281.json
- Plain text: https://secwatch.observer/filing/0001564590-22-037281.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1368458/000156459022037281/0001564590-22-037281-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1368458/000156459022037281/0001564590-22-037281-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.