Sally Beauty misses by $0.01, misses on revs; offers FY17 outlook, new CFO named :
- Reports Q4 (Sep) earnings of $0.41 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.42; revenues rose 1.3% year/year to $976.36 mln vs the $989.05 mln Capital IQ Consensus.
- The fiscal 2016 fourth quarter sales increase is primarily attributed to same store sales growth and the addition of new stores. The impact from unfavorable changes in foreign currency exchange rates in the fiscal 2016 fourth quarter was $12.7 million, or 1.3%. Consolidated same store sales growth in the fiscal 2016 fourth quarter was 1.2% compared to 3.5% in the fiscal 2015 fourth quarter.
- Fiscal Year 2017 Outlook
- Consolidated same store sales growth for fiscal 2017 is expected to be approximately 3%.
- Consolidated gross profit margin expansion is expected to be in the range of 30 bps to 40 bps.
- Capital expenditures for fiscal year 2017 are projected to be under $135 million.
- Consolidated organic store growth is expected to be in the range of 2.0% to 3.0%.
- Donald T. Grimes has been appointed as Senior Vice President, Chief Financial Officer (CFO) and Chief Operations Officer (COO) effective December 12, 2016. Don joins Sally Beauty Holdings from Neiman Marcus, a luxury retailer, where he was CFO and COO.
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