Company: SBH
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0000950170-25-019869
Chunk: 28

Company: Sally Beauty Holdings, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Part I, Item 2
Chunk 28
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    Number of stores at end-of-period (including franchises):

    SBS

    3,123

    3,143

    (20
    )

    (0.6
    )%

    BSG

    1,330

    1,332

    (2
    )

    (0.2
    )%

    Consolidated

    4,453

    4,475

    (22
    )

    (0.5
    )%

(a)Unallocated expenses consist of corporate and shared costs and are included in selling, general and administrative expenses in our condensed consolidated statements of earnings. Additionally, unallocated expenses include costs associated with our Fuel for Growth initiative as well as the $26.6 gain related to the sale of our corporate headquarters during the three months ended December 31, 2024. See Note 7, Property and Equipment, Net, for more information related to the sale of our corporate headquarters. 

17

Results of Operations

The Three Months Ended December 31, 2024, compared to the Three Months Ended December 31, 2023

Net Sales 

SBS. The increase in net sales for SBS was primarily driven by the following (in thousands): 

    Comparable sales
     
    $
    8,716

    Sales outside comparable sales (a)

    (1,795
    )

    Foreign currency exchange

    (4,713
    )

    Total
     
    $
    2,208

(a)Includes closed stores, net of stores opened for less than 14 months.

SBS’s increase in comparable sales was primarily reflecting strong growth in hair color and digital marketplaces.

BSG. The increase in net sales for BSG was primarily driven by the following (in thousands): 

    Comparable sales
     
    $
    5,779

    Sales outside comparable sales (a)

    (406
    )

    Foreign currency exchange

    (988
    )

    Total
     
    $
    4,385

(a)Includes closed stores, net of stores opened for less than 14 months and sales from acquired stores. 

BSG’s net sales increase was primarily driven by an increase in comparable sales, reflecting continued momentum from expanded distribution and new brand innovation. 

Gross Profit 

SBS. SBS’s gross profit increased for the three months ended December 31, 2024, as a result of an increase in net