Denton-based Sally Beauty Holdings Inc. outpaced investor expectations for its fourth quarter, reporting earnings of $68.1 million.
The beauty supply company reported 59 cents profit per-share, down from 62 cents in the same quarter last year, and 64 cents per share in cost-adjusted earnings. With revenue of $990.3 million in the period, Sally topped Wall Street forecasts analysts surveyed by Zacks Investment Research predicted earnings of 50 cents per share and $971.7 million. Annual profit saw a 111% increase over 2020, totaling $239.9 million, or $2.10 per share.
The quarter was Sally’s first partially under the guidance of its new president and CEO, Denise Paulonis. Paulonis, the company’s first female CEO, began in the new role Oct. 1.
She succeeds longtime executive Chris Brickman, who will remain on as a consultant through March 2022.
The company is looking to continue consolidating stores in 2022, shuttering 1-2% of its more than 5,000 stores worldwide. Global e-commerce sales represented 7.2% of global net sales in 2021, after increasing 69% in 2020. Sally also launched 2-hour same day store pickup this week, enhancing the same-day pickup it began offering last year as part of a broader investment in e-commerce.