SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549

                                   FORM 10-Q


[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED:

                                December 31, 1997

                                      -OR-

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934


Commission File No. 1-5050


                              ALBERTO-CULVER COMPANY
              (Exact name of registrant as specified in its charter)



              Delaware                                         36-2257936
    (State or other jurisdiction of                        (I.R.S. Employer
     incorporation or organization)                        Identification No.)


                               2525 Armitage Avenue
                           Melrose Park, Illinois 60160
              (Address of principal executive offices) (Zip code)



Registrant's telephone number, including area code:   (708) 450-3000




Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports) and (2) has been subject to such filing
requirements for the past 90 days.  YES  X    NO



At December  31,  1997,  there were  23,284,741  shares of Class A common  stock
outstanding and 33,532,480 shares of Class B common stock outstanding.



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                               PART  I


<TABLE>

ITEM 1.  FINANCIAL STATEMENTS


                     ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                       Consolidated Statements of Earnings
                  Three Months Ended December 31, 1997 and 1996
            (dollar amounts in thousands, except per share figures)



                                                                                         (Unaudited)
<CAPTION>
                                                                                   1997                  1996
<S>                                                                            <C>                     <C>
Net sales                                                                      $ 445,400               426,105

Costs and expenses:
     Cost of products sold                                                       218,040               215,388
     Advertising, promotion, selling and administrative                          193,897               181,587
     Interest expense, net of interest income of $763
         in 1997 and $787 in 1996                                                  2,081                 2,392

     Total costs and expenses                                                    414,018               399,367

Earnings before non-recurring gain and provision for income taxes                 31,382                26,738

Non-recurring gain (Note 5)                                                           --                15,634

Earnings before provision for income taxes (Note 5)                               31,382                42,372

Provision for income taxes (Note 5)                                               11,690                15,784

Net earnings (Note 5)                                                          $  19,692                26,588

Net earnings per share (Notes 2, 3 and 5)

     Basic                                                                     $     .35                   .48

     Diluted                                                                   $     .32                   .44

Cash dividends paid per share (Note 2)                                         $     .05                  .045


See notes to consolidated financial statements.
</TABLE>



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<TABLE>

                                          ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                                                Consolidated Balance Sheets
                                         December 31, 1997 and September 30, 1997
                                               (dollar amounts in thousands)

                                                                           (Unaudited)
<CAPTION>
                                                                          December 31,                September 30,
ASSETS                                                                          1997                         1997
<S>                                                                    <C>                            <C>
Current assets:
   Cash and cash equivalents                                             $     56,892                      76,040
   Short-term investments                                                       6,298                      11,560
   Receivables, less allowance for doubtful
      accounts ($9,485 at 12/31/97 and $9,042 at 9/30/97)                     117,106                     120,774
   Inventories (Note 4)                                                       361,746                     343,868
   Other current assets                                                        30,116                      28,017
      Total current assets                                                    572,158                     580,259
Property, plant and equipment at cost, less accumulated
   depreciation ($165,908 at 12/31/97 and $159,155 at 9/30/97)                199,655                     190,998
Goodwill, net                                                                 117,145                     114,245
Trade names and other intangible assets, net                                   68,465                      70,155
Other assets                                                                   46,008                      44,402
   Total assets                                                            $1,003,431                  $1,000,059

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
   Current maturities of long-term debt and short-term borrowings        $      4,576                       4,943
   Accounts payable                                                           158,639                     174,322
   Accrued expenses                                                           107,778                     118,447
   Income taxes                                                                18,612                      13,540
      Total current liabilities                                               289,605                     311,252

Long-term debt                                                                 48,580                      49,441
Convertible subordinated debentures                                           100,000                     100,000
Deferred income taxes                                                          27,961                      25,490
Other liabilities                                                              16,308                      16,872

Stockholders' equity (Note 2): Common stock, par value $.22 per share:
      Class A authorized 75,000,000 shares; issued 24,442,931 shares            5,378                       5,378
      Class B authorized 75,000,000 shares; issued 37,710,664 shares            8,296                       8,296
   Additional paid-in capital                                                  96,812                      91,222
   Retained earnings                                                          475,787                     458,886
   Foreign currency translation                                               (25,534)                    (22,555)
                                                                              560,739                     541,227
   Lesstreasury stock at cost (Class A common shares:  1,158,190 at 12/31/97 
      and 1,833,315 at 9/30/97; Class B common shares:
      4,178,184 at 12/31/97 and at 9/30/97)                                   (39,762)                    (44,223)
         Total stockholders' equity                                           520,977                     497,004
         Total liabilities and stockholders' equity                        $1,003,431                  $1,000,059

See notes to consolidated financial statements.
</TABLE>


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<TABLE>



                                             ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                                              Consolidated Statements of Cash Flows
                                          Three months Ended December 31, 1997 and 1996
                                                  (dollar amounts in thousands)



                                                                                                     (Unaudited)
                                                                                       1997                  1996
<CAPTION>

Cash Flows from Operating Activities:
<S>                                                                                  <C>               <C>
Net earnings                                                                          $19,692           26,588

Adjustments  to  reconcile  net  earnings  to net  cash  provided  by  operating
   activities:
     Depreciation and amortization                                                     10,035            8,942
     Non-recurring gain                                                                    --          (15,634)
     Other, net                                                                         5,316           (2,706)
     Cash effects of changes in:
       Receivables, net                                                                (1,184)           6,268
       Inventories                                                                    (17,286)          (8,888)
       Other current assets                                                               306           (1,911)
       Accounts payable and accrued expenses                                          (22,230)          (1,582)
       Income taxes                                                                     7,562           14,886
     Net cash provided by operating activities                                          2,211           25,963

Cash Flows from Investing Activities:

Short-term investments                                                                  5,262           (1,054)
Capital expenditures                                                                  (16,076)          (9,009)
Payments for purchased businesses, net of acquired companies' cash                     (7,001)          (6,215)
Proceeds from insurance settlement                                                         --           28,000
Other, net                                                                                604              866
   Net cash used by investing activities                                              (17,211)          12,588

Cash Flows from Financing Activities:

Short-term borrowings                                                                    (106)           1,831
Proceeds from long-term debt                                                              464              927
Repayments of long-term debt                                                             (311)            (302)
Cash dividends paid                                                                    (2,808)          (2,504)
Cash proceeds from exercise of stock options                                            8,884            2,850
Stock purchased for treasury                                                           (8,015)            (994)
   Net cash used by financing activities                                               (1,892)           1,808

Effect of foreign exchange rate changes on cash                                        (2,256)             368
Net increase (decrease) in cash and cash equivalents                                  (19,148)          40,727

Cash and cash equivalents at beginning of period                                       76,040           66,211

Cash and cash equivalents at end of period                                           $ 56,892          106,938

See notes to consolidated financial statements.
</TABLE>


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                        ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                    Notes to Consolidated Financial Statements


     (l)  The consolidated  financial  statements  contained in this report have
          not been  examined  by  independent  public  accountants,  except  for
          balance sheet information presented at September 30, 1997. However, in
          the opinion of the  company,  the  consolidated  financial  statements
          reflect all adjust-  ments,  which  include  only normal  adjustments,
          necessary to present fairly the data contained therein. The results of
          operations for the periods covered are not  necessarily  indicative of
          results for a full year.

     (2)  On January 23, 1997,  the company  announced a 100% stock  dividend on
          its  Class A and  Class B  outstanding  shares.  The new  shares  were
          distributed  February 20, 1997 to  shareholders of record at the close
          of business on February 3, 1997.  The stock  dividend was  distributed
          only on outstanding shares and not on shares held in the treasury. All
          share and per share  information  in this report,  except for treasury
          shares,  has been  restate to reflect  the 100%  stock  dividend.  The
          company  also  announced  on January  22, 1998 an increase in the cash
          dividend on Class A and Class B common  stock,  raising the  quarterly
          dividend  20.0% to 6 cents  per share or 24 cents  annually.  The cash
          dividend is payable  February  20, 1998 to  stockholders  of record on
          February 2, 1998.

     (3)  The company has adopted  Statement of Financial  Accounting  Standards
          ("SFAS")  No.  128,  "Earnings  Per  Share"  which  requires  the dual
          presentation  of basic and diluted  earnings per share,  replacing the
          primary  and  fully-diluted  disclosures  previously  required.  As  a
          result, all prior period earnings per share amounts have been restated
          to conform to the current  year's  presentation.  Basic  earnings  per
          share is  calculated  using the  weighted  average  of  actual  shares
          outstanding  of 56,354,000  and  55,773,000 for the three months ended
          December 31, 1997 and 1996,  respectively,  after giving effect to the
          100% stock  dividend  described in Note 2. Diluted  earnings per share
          are determined by dividing net earnings before  interest  expense (net
          of tax  benefit) on the  convertible  subordinated  debentures  by the
          weighted   average   shares   outstanding,   including   common  stock
          equivalents,  after  giving  effect  to  common  shares  to be  issued
          assuming  conversion  of the  convertible  subordinated  debentures to
          Class A common stock. Diluted weighted average shares outstanding were
          63,656,000 and 63,012,000 for the three months ended December 31, 1997
          an 1996, respectively,  after giving effect to the 100% stock dividend
          described in Note 2.



(4) Inventories consist of the following:

                                                 (in thousands)
                                           December 31,    September 30,
                                               1997             1997
                                               ----             ----

      Finished goods                       $311,180           292,441
      Work-in-process                         8,119             7,252
      Raw materials                          42,447            44,175
                                             ------            ------


                                           $361,746           343,868
                                           ========           =======


                                                             5

<PAGE>




     (5)  In the first quarter of fiscal year 1997, the company received a $28.0
          million insurance  settlement from the loss of its corporate airplane.
          The effect on the company's earnings was a non-recurring  pre-tax gain
          of $15.6  million  and an increase  in net  earnings of $9.8  million.
          Accordingly, basic earnings per share increased $0.17 and on a diluted
          basis rose $0.16.

     The  following table provides  pro-forma  information for the first quarter
          of the fiscal year  excluding the  non-recurring  gain (in  thousands,
          except per share data):
                                                   Quarter Ended December 31
                                                      1997              1996

               Pre-tax earnings                   $ 31,382            26,738
               Net earnings                       $ 19,692            16,777

               Net earnings per share:
                  Basic                             $ 0.35              0.30
                  Diluted                           $ 0.32              0.28





                                                         6

<PAGE>




ITEM  2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL CONDITION

RESULTS OF OPERATIONS

FIRST QUARTER ENDED DECEMBER 31, 1997 V.S. FIRST QUARTER ENDED DECEMBER 31, 1996

The company  achieved record first quarter net sales of $445.4 million in fiscal
year 1998,  up $19.3 million or 4.5% over the  comparable  period of fiscal year
1997.  Net  earnings  for the three  months  ended  December 31, 1997 were $19.7
million or 25.9% lower than the same period of the prior year,  which included a
non-recurring  gain.  Basic  earnings  per share were 35 cents and 32 cents on a
diluted basis.

As  described  in  Note 5,  the  company  received  a  $28.0  million  insurance
settlement  from the loss of its  corporate  airplane  in the first  quarter  of
fiscal year 1997. As a result, the company  recognized a non-recurring,  pre-tax
gain  of  $15.6  million  and an  increase  to net  earnings  of  $9.8  million.
Accordingly,  last year's first  quarter basic  earnings per share  increased 17
cents while diluted earnings per share increased 16 cents.

On a pro-forma basis, net earnings before the  non-recurring  gain were a record
for the first quarter at $19.7 million, 17.4% higher than the same period of the
prior year. Pro-forma basic earnings per share were 35 cents, a 5 cents or 16.7%
increase over last year.  Pro-forma diluted earnings per share increased 4 cents
or 14.3% to 32 cents.

The following table presents net sales  information by business  segment for the
first quarter of fiscal years 1998 and 1997:

FIRST QUARTER
(dollars in millions)
                                           Fiscal Year          Dollar   Percent
Net sales:                               1998       1997        Change    Change
Consumer products:
    Alberto-Culver USA                 $106.2      107.6        (1.4)     (1.4)%
    Alberto-Culver International        112.5      112.9         (.4)      (.3)
    Total consumer products             218.7      220.5        (1.8)      (.8)
Specialty distribution - Sally          230.8      208.7        22.1      10.6
Eliminations                             (4.1)      (3.1)       (1.0)    (32.9)
                                       $445.4      426.1        19.3       4.5%


          Compared to the same period of the prior year, sales of Alberto-Culver
          USA  consumer  products  decreased  $1.4 million or 1.4% for the first
          quarter of fiscal year 1998.  The decrease was  primarily due to lower
          sales for custom label filling  operations  partially offset by higher
          sales of the  TRESemme,  Cortexx  and TCB hair care lines and St. Ives
          lotions.

          Sales of  Alberto-Culver  International  consumer products were $112.5
          million for the current  quarter,  essentially  flat when  compared to
          last  year.  Sales for the  first  quarter  of  fiscal  year 1998 were
          negatively  impacted  by the effect of  foreign  exchange  rates.  Had
          foreign exchange rates this year been the same as the first quarter of
          fiscal 1997,  Alberto-Culver  International sales would have increased
          8.1% driven by strong results in Latin America and Europe.

          The "Specialty  distribution-Sally"  business segment achieved a sales
          increase of $22.1 million or 10.6%,  reaching  $230.8 million in sales
          for the quarter ended December 31, 1997. The gain was  attributable to
          higher  sales  for  established  Sally  Beauty  Company  outlets,  the
          addition of stores  during the year and the  expansion of Sally's full
          service and foreign  operations.  At December 31,  1997,  Sally Beauty
          Company had 1,888 stores offering a full range of professional  beauty
          supplies.

          Cost of  products  sold as a percent of net sales for the three  month
          period ended  December 31, 1997 was 49.0% as compared to 50.5% for the
          first  quarter of the prior year.  The decrease was  primarily  due to
          cost  savings  and a change in  product  mix  favoring  higher  margin
          products for Alberto-Culver USA.

          Advertising,  promotion,  selling and administrative  expenses for the
          December  31,  1997  quarter  rose 6.8% or $12.3  million  versus  the
          comparable  period of the  prior  year.  The  increase  resulted  from
          additional advertising, promotion and market

                                   7


<PAGE>


          research  expenditures  for  Alberto-Culver  USA along  wited with the
          increase in the number of Sally Beauty Company stores.h higher selling
          and administrative costs associated with the increase in the number of
          Sally Beauty Company stores.

          Advertising,  promotion and market research expenditures totaled $62.1
          million for the current period versus $56.0 million for the comparable
          period of the prior year.  The  increase was  primarily  due to higher
          expenses for  Alberto-Culver  USA  including the  introduction  of new
          products.

          Interest expense was $2.8 million for the first quarter of fiscal year
          1998 versus $3.2 million for the  comparable  prior period.  The lower
          interest  expense  was  primarily   attributable  to  a  reduction  of
          outstanding  revolving debt and the effect of foreign  exchange rates.
          Interest  income was $763,000 for the quarter ended  December 31, 1997
          versus $787,000 in the prior year.

          The  provision  for income  taxes as a percentage  of earnings  before
          income taxes was 37.25% for the first quarter of fiscal years 1998 and
          1997.


FINANCIAL CONDITION

DECEMBER 31, 1997 V.S. SEPTEMBER 30, 1997


          The ratio of current assets to current liabilities was 1.98 to 1.00 at
          the end of the first  quarter of fiscal year 1998  compared to 1.86 to
          1.00 at September  30,  1997.  Working  capital of $282.6  million was
          $13.6  million  higher than the  September  30, 1997 balance of $269.0
          million primarily due to increased inventory levels and lower accounts
          payable and accrued expenses.

          Total borrowings  decreased $1.2 million during the first three months
          of fiscal  year 1998.  At  December  31,  1997,  the  company had $200
          million available under its revolving credit facility.
































                                                         8

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                                      PART II





ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a)     Exhibits:


        10(b)   Copy of Alberto-Culver Company Employee Stock Option Plan of
                1988, as amended.*


        10(e)   Copy of Alberto-Culver Company 1994 Stock Option Plan for Non-
                Employee Directors, as amended.*


        27      Financial Data Schedule


                *   This exhibit is a management contract or compensatory plan
                    or arrangement of the registrant.

(b)     Reports on Form 8-K:

        No report on Form 8-K was filed by the  registrant  during  the  quarter
        ended December 31, 1997.





























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                                     SIGNATURE



Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.







                                  ALBERTO-CULVER COMPANY
                                       (Registrant)





                                  By:/s/ William J. Cernugel
                                  --------------------------
                                     William J. Cernugel
                                     Senior Vice President, Finance & Controller
                                    (Principal Financial Officer)
















February 10, 1998







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