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, 1995

                                      -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,  1995,  there were  11,012,995  shares of Class A common  stock
outstanding and 16,766,240 shares of Class B common stock outstanding.


                                 - 1 -

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                                     PART I


ITEM 1.  FINANCIAL STATEMENTS


<TABLE>
<CAPTION>

                     ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                       Consolidated Statements of Earnings
                  Three Months Ended December 31, 1995 and 1994
             (dollar amounts in thousands, except per share figures)

                                                               (Unaudited)
                                                              1995        1994
<S>                                                          <C>         <C>
Net sales ................................................   $347,638    311,474

Costs and expenses:
     Cost of products sold ...............................    178,343    155,548
     Advertising, promotion, selling and administrative ..    146,675    136,840
     Interest expense, net of interest income of $1,629
         in 1995 and $466 in 1994 ........................      2,102      1,174

     Total costs and expenses ............................    327,120    293,562

Earnings before provision for income taxes ...............     20,518     17,912

Provision for income taxes ...............................      7,643      6,717

Net earnings .............................................   $ 12,875     11,195

Net earnings per share of common stock:

     Primary .............................................   $    .46        .40

     Fully-diluted .......................................   $    .44        .40

Cash dividends paid per share ............................   $    .08        .07


See notes to consolidated financial statements.
</TABLE>


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<PAGE>
<TABLE>
<CAPTION>
                     ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                           Consolidated Balance Sheets
                    December 31, 1995 and September 30, 1995
             (dollar amounts in thousands, except per share figures)

                                                                           (Unaudited)
                                                                   December 31,   September 30,
ASSETS                                                                  1995          1995
<S>                                                                    <C>            <C>
Current assets:
   Cash and cash equivalents .......................................   $ 129,748      142,585
   Short-term investments ..........................................       6,000        4,400
   Receivables, less allowance for doubtful
      accounts ($6,055 at 12/31/95 and $5,663 at 9/30/95) ..........     122,270      128,482
   Inventories (Note 3) ............................................     264,344      248,529
   Other current assets ............................................      12,655       12,549
      Total current assets .........................................     535,017      536,545
Property, plant and equipment at cost, less accumulated
   depreciation ($134,597 at 12/31/95 and $128,243 at 9/30/95) .....     164,545      157,791
Goodwill, net ......................................................      55,303       55,225
Trade names and other intangible assets, net .......................      34,942       34,198
Other assets .......................................................      34,834       31,327
   Total assets ....................................................   $ 824,641      815,086

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
   Current maturities of long-term debt and short-term borrowings ..   $   3,186        1,389
   Accounts payable ................................................     138,395      144,253
   Accrued expenses ................................................      73,395       76,141
   Income taxes ....................................................      17,933       13,056
      Total current liabilities ....................................     232,909      234,839

Long-term debt .....................................................      84,408       83,094
Convertible subordinated debentures ................................     100,000      100,000
Deferred income taxes ..............................................      15,198       15,365
Other liabilities ..................................................      11,312       10,885

Stockholders' equity:
   Common stock, par value $.22 per share:
      Class A authorized 25,000,000 shares; issued 13,262,624 shares       2,918        2,918
      Class B authorized 25,000,000 shares; issued 20,944,424 shares       4,608        4,608
   Additional paid-in capital ......................................      88,614       87,896
   Retained earnings ...............................................     348,163      337,506
   Foreign currency translation ....................................     (14,684)     (12,966)
                                                                         429,619      419,962
   Less treasury stock at cost (Class A common shares: 2,249,629
      at 12/31/95 and 2,299,618 at 9/30/95; Class B common shares:
      4,178,184 at 12/31/95 and at 9/30/95) ........................      48,805       49,059
         Total stockholders' equity ................................     380,814      370,903
         Total liabilities and stockholders' equity ................   $ 824,641      815,086

See notes to consolidated financial statements.
</TABLE>

                                      - 3 -

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                    ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                      Consolidated Statements of Cash Flows
                  Three months Ended December 31, 1995 and 1994
                          (dollar amounts in thousands)

<TABLE>
<CAPTION>
                                                                          (Unaudited)
                                                                       1995          1994

Cash Flows from Operating Activities:
<S>                                                                  <C>            <C>
Net earnings .....................................................   $  12,875       11,195
Adjustments to reconcile net earnings to net cash
   provided by operating activities:
     Depreciation and amortization ...............................       7,057        5,451
     Other, net ..................................................        (250)      (1,218)
     Cash effects of changes in:
       Receivables, net ..........................................       5,553        3,805
       Inventories ...............................................     (16,225)      (1,938)
       Other current assets ......................................        (290)      (1,905)
       Accounts payable and accrued expenses .....................      (1,010)      (2,463)
       Income taxes ..............................................       5,039        5,616
     Net cash provided by operating activities ...................      12,749       18,543

Cash Flows from Investing Activities:

Short-term investments ...........................................      (1,600)      (1,840)
Capital expenditures .............................................     (12,390)      (4,925)
Payments for purchased businesses, net of acquired companies' cash     (10,576)        (283)
Other, net .......................................................        (589)      (1,305)
   Net cash used by investing activities .........................     (25,155)      (8,353)

Cash Flows from Financing Activities:

Short-term borrowings ............................................       1,799         (910)
Proceeds from long-term debt .....................................        --            677
Repayments of long-term debt .....................................        (303)        (231)
Cash dividends paid ..............................................      (2,218)      (1,938)
Cash proceeds from exercise of stock options .....................         860          124
Stock purchased for treasury .....................................        (578)        --
   Net cash used by financing activities .........................        (440)      (2,278)

Effect of foreign exchange rate changes on cash ..................           9         (156)
Net increase (decrease) in cash and cash equivalents .............     (12,837)       7,756

Cash and cash equivalents at beginning of period .................     142,585       41,833

Cash and cash equivalents at end of period .......................   $ 129,748      $49,589

See notes to consolidated financial statements.
</TABLE>

                                      - 4 -

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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, 1995.  However,
           in the opinion of the company, the consolidated  financial statements
           reflect all  adjustments,  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)   Primary  earnings  per  share  are based on the  weighted  average  shares
      outstanding,   including  common  stock  equivalents,  of  27,998,000  and
      27,772,000  for  the  three  months  ended  December   31,1995  and  1994,
      respectively.

      Fully diluted  earnings per share are  determined by dividing net earnings
      before interest expense on the convertible subordinated debentures (net of
      tax  benefit) by the  weighted  average  shares  outstanding  after giving
      effect  to  common  shares  to  be  issued  assuming   conversion  of  the
      convertible  subordinated  debentures  to  Class A  common  stock.  Fully-
      diluted weighted average shares outstanding were 31,191,000 and 27,789,000
      for the three months ended December 31, 1995 and 1994, respectively.

(3)   Inventories consist of the following:

                                                           (in thousands)
                                                   December 31,    September 30,
                                                      1995               1995

                 Finished goods                       $231,426        211,224
                 Work-in-process                         5,214          4,897
                 Raw materials                          27,704         32,408
                                                      --------        -------
                                                      $264,344        248,529


(4)   On February 6, 1996,  the company  completed its  acquisition  of St. Ives
      Laboratories,  Inc., a hair and skin care products company, through a cash
      merger valued at approximately $120 million.  The merger will be accounted
      for as a purchase.

 (5)  In prior  years,  the Consumer  Products  Division of  Alberto-Culver  USA
      recorded  certain  promotional  allowances  that were shown as a deduction
      from the list price reported on customer  invoices as promotion  expenses.
      Beginning with the quarter ended  December 31, 1995,  the company  changed
      the method of reporting sales to a net sales basis thereby  reducing sales
      and  promotion  expense by  $2,843,000.  This  change had no effect on net
      income and prior periods have not been restated due to immateriality.  The
      change  is  in  conformity  with  industry   practice  and  also  provides
      management  with  financial  information  that is consistent  across other
      divisions of Alberto-Culver USA.


                                      - 5 -

<PAGE>


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


RESULTS OF OPERATIONS

FIRST QUARTER ENDED DECEMBER 31, 1995 VS. FIRST QUARTER ENDED DECEMBER 31, 1994

The company  achieved record first quarter net sales of $347.6 million in fiscal
year 1996, up $36.1 million or 11.6% over the  comparable  period of fiscal year
1995.  Net earnings  for the three  months  ended  December 31, 1995 were also a
record for the first  quarter at $12.9  million  or 15.0%  higher  than the same
period of the prior year. Primary earnings per share of 46 cents were 6 cents or
15.0%  higher than the same period last year.  Fully-diluted  earnings per share
were 44 cents, up 4 cents or 10.0% from the prior year.

The following table presents net sales  information by business  segment for the
first quarter of fiscal years 1996 and 1995:

FIRST QUARTER
(dollars in millions)
                                         Fiscal Year         Dollar      Percent
Net sales:                            1996       1995        Change       Change
Consumer products:
    Alberto-Culver USA               $66.4       71.4         (5.0)       (7.0%)
    Alberto-Culver International     101.8       74.1         27.7        37.4
                                     -----      -----         -----       -----
    Total consumer products          168.2      145.5         22.7        15.6
Specialty distribution - Sally       181.4      168.3         13.1         7.8
Eliminations                          (2.0)      (2.3)         0.3        13.0
                                    ------      -----         -----       -----
                                    $347.6      311.5         36.1        11.6%

Compared  to the same  period of the prior  year,  sales of  Alberto-Culver  USA
"consumer  products"  decreased  $5.0  million or 7.0% for the first  quarter of
1996.  Sales in the current quarter were lower by $2.8 million due to the change
in classification of certain  off-invoice  promotional  allowances  discussed in
Note 5.  Excluding the  reclassification,  sales were $2.2 million lower for the
current quarter, a decrease of 3.0% compared to last year. Sales were lower this
year for such brands as Static Guard  anti-static  spray,  Molly  McButter dairy
sprinkles,  Mrs. Dash seasoning  products and Consort hair care products.  These
decreases were  partially  offset by higher  sales of Alberto  VO5  shampoo and
conditioner, TCB hair  care  products,  Alberto  VO5 Hot Oil and FDS  feminine
deodorant spray.

Sales of Alberto-Culver  International  "consumer  products" were $101.8 million
for the current quarter,  an increase of 37.4% compared to last year. The fiscal
1996 increase primarily resulted from the acquisition of the Toiletries Division
of Molnlycke AB in April, 1995.

The "specialty distribution-Sally" business segment experienced a sales increase
of $13.1 million or 7.8%, reaching $181.4 million for the quarter ended December
31, 1995. The gain was  attributable to Sally Beauty  Company's sales growth for
established  stores and the addition of 150 new stores since  December 31, 1994.
Sally Beauty Company  operates 1,536 beauty supply stores  offering a full range
of salon care products.

Cost of products sold as a percent of net sales for the three month period ended
December  31, 1995  increased  1.4%  compared to the first  quarter of the prior
year.  Higher  raw  material  costs,  the  disposal  of  inventories  related to
discontinued  SKUs,  and higher sales of close-out  merchandise,  along with the
reclassification discussed in Note 5, contributed to the increase in the cost of
products sold percentage.

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<PAGE>


Advertising,  promotion,  selling and administrative  expenses rose 7.2% or $9.8
million for the December 31, 1995 quarter  versus the  comparable  period of the
prior year. The increase  resulted from the acquisition of Molnlycke  Toiletries
in April,  1995 along with higher selling and  administrative  costs  associated
with the increase in the number of Sally Beauty Company stores, partially offset
by  lower  advertising  and  promotional  expenditures  for  Alberto-Culver  USA
"consumer products."
 Advertising,  promotion and market research  expenditures totaled $43.1 million
for the current  period  versus $41.7 million for the  comparable  period of the
prior year.

Interest  expense  was $3.7  million  for the first  quarter of fiscal year 1996
versus $1.6 million for the comparable prior period.  The increase was primarily
attributable  to the $100 million of 5.5%  convertible  subordinated  debentures
issued  in  July,  1995  and  borrowings  related  to the  Molnlycke  Toiletries
acquisition  in April,  1995.  Interest  income of $1.6  million for the quarter
ended  December  31, 1995 was $1.2  million  higher than last year mainly due to
investing the net proceeds from the convertible subordinated debentures.

The provision  for income taxes as a percentage of earnings  before income taxes
was  37.25%  and 37.5%  for the first  quarter  of fiscal  years  1996 and 1995,
respectively.


FINANCIAL CONDITION

DECEMBER 31, 1995 VS. SEPTEMBER 30, 1995

The ratio of current assets to current  liabilities  was 2.30 to 1.00 at the end
of the first  quarter of fiscal year 1996  compared to 2.28 to 1.00 at September
30, 1995. Working capital of $302.1 million remained  relatively  unchanged from
the September 30, 1995 balance of $301.7 million.

Total borrowings  increased $3.1 million during the first three months of fiscal
year 1996.  At December  31,  1995,  the company had unused lines of credit with
various banks of approximately $69 million.

For the  twelfth  consecutive  year,  the company  announced  an increase in the
quarterly  cash  dividend on both Class A and Class B common  stock,  raising it
12.5% to 9 cents  per  share or 36  cents  annually.  The  dividend  is  payable
February 20, 1996 to stockholders of record on February 5, 1996.


                                      - 7 -

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                                     PART II


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a)     Exhibits:

        27               Financial Data Schedule


(b)     Reports on Form 8-K:

        No report on Form 8-K was filed by the registrant during the quarter
        ended December 31, 1995.



                                      - 8 -

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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 12, 1996

                                      - 9 -
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