UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                              Washington, D.C. 20549

                                     FORM 10-K

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

                                SEPTEMBER 30, 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

Securities registered pursuant to Section 12(b) of the Act:
                                                  Name of each exchange
Title of each class                               on which registered
Class A Common Stock, par value $.22 per share    New York Stock Exchange
Class B Common Stock, par value $.22 per share    New York Stock Exchange
 

Securities registered pursuant to Section 12(g) of the Act: None

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

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ ]

The aggregate market value of common stock held by non-affiliates  (assuming for
this purpose only that all directors and executive  officers are  affiliates) on
November 25, 1997 was $547.9 million for Class A Common Stock and $508.5 million
for Class B Common Stock.

At November  25,  1997,  there were  22,850,658  shares of Class A Common  Stock
outstanding and 33,532,480 shares of Class B Common Stock outstanding.

                         DOCUMENTS INCORPORATED BY REFERENCE

Parts I and II........   Portions of annual report to stockholders for the year
                         ended September 30, 1997

Part III..............   Portions of proxy statement and notice of annual 
                         meeting of stockholders on January 22, 1998



                                      - 1 -


<PAGE>



This Annual  Report on Form 10-K and the  documents  incorporated  by  reference
herein include certain  forward- looking  statements,  estimates and projections
with  respect  to the  anticipated  future  performance  of the  business.  Such
statements,   estimates  and  projections  are  based  on  management's  current
expectations  and  assessments of risks and  uncertainties  and reflect  various
assumptions  concerning  anticipated  results,  which may or may not prove to be
correct.  Some  of the  factors  that  could  cause  actual  results  to  differ
materially  from  estimates or  projections  contained  in such forward  looking
statements  include the pattern of brand sales,  including  variations  in sales
volume  within  periods;   competition  within  the  relevant  product  markets,
including pricing,  promotional  activities,  continuing  customer acceptance of
existing  products  and the ability to develop and  successfully  introduce  new
products;  risks inherent in acquisitions  and strategic  alliances;  changes in
costs  including  changes in labor  costs,  raw material  prices or  promotional
expenses;  the  costs  and  effects  of  unanticipated  legal or  administrative
proceedings; variations in political, economic or other factors such as currency
exchange rates, inflation rates,  recessionary or expansive trends, tax changes,
legal and regulatory changes or other external factors over which Alberto-Culver
Company has no control.


                                     PART I
ITEM  1. BUSINESS

BUSINESS SEGMENTS AND GEOGRAPHIC AREA INFORMATION

Alberto-Culver  Company and its  consolidated  subsidiaries  (herein referred to
collectively as the "company",  unless  indicated  otherwise) have two principal
business  segments.  One  segment,   "Consumer  Products"  principally  includes
developing, manufacturing,  distributing and marketing branded consumer products
worldwide  and  includes the  company's  Alberto-Culver  USA and  Alberto-Culver
International  business units.  This segment also includes products intended for
end use by  institutions  and industries and the  manufacturing  of custom label
products for other  companies.  The second  segment,  "Specialty  Distribution -
Sally",   consists  of  Sally  Beauty  Company,   a  specialty   distributor  of
professional  beauty  supplies with 1,833 stores as of September 30, 1997 in the
United States, Puerto Rico, the United Kingdom, Japan and Germany.

Financial information about business segments and geographic area information is
incorporated  herein by reference to the Business  Segments and Geographic  Area
Information  note  of  "Notes  to  Consolidated  Financial  Statements"  in  the
company's annual report to stockholders for the year ended September 30, 1997.

PRODUCTS

The classes of products in the  "Consumer  Products"  business  segment  include
health and beauty care products as well as food and household  products.  Health
and beauty care  products  accounted for  approximately  43%, 43% and 39% of the
company's  consolidated  net sales for the years ended  September 30, 1997, 1996
and 1995, respectively.  Food and household products accounted for approximately
7%, 8% and 10% of the  company's  consolidated  net  sales  for the years  ended
September 30, 1997, 1996 and 1995, respectively.

The company's major health and beauty care products in the United States include
the ALBERTO VO5, TRESemme and CONSORT lines of hair care products,  the St. Ives
SWISS FORMULA line of hair and skin care  products,  CORTEXX hair care products,
FDS  feminine  deodorant  sprays and the TCB line of hair care  products for the
ethnic market.

Food  and  household  products  sold in the  United  States  include  MRS.  DASH
salt-free seasonings, MOLLY McBUTTER dairy sprinkles, SUGARTWIN sugar substitute
and STATIC  GUARD  anti-static  spray.  The company  sold its Milani,  Diafoods,
Thick-It and Smithers institutional food lines in July, 1996.

                                      - 2 -


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The company's consumer products are sold in more than 120 countries. Through its
Cederroth  subsidiary,  the company  manufactures  and markets health and beauty
care  products  throughout   Scandanavia  and  Europe.  Major  products  include
SALVEKVICK adhesive bandages,  ALBERTO VO5 hair care products, SAMARIN antacids,
SELTIN salt  substitute,  LACTACYD  liquid soap,  TOPZ cotton buds,  BLIW liquid
soaps,  DATE  antiperspirants  and cologne for women,  FAMILY FRESH  shampoo and
shower products,  SUKETTER artificial sweetener,  HEMANENT home permanents,  St.
Ives SWISS FORMULA line of hair and skin care  products,  HTH and L300 skin care
products and GRUMME TVATTSAPA detergents.

In the United Kingdom,  the company markets,  among other products,  the ALBERTO
VO5 line of hair care products, the St. Ives SWISS FORMULA line of hair and skin
care products,  ALBERTO BALSAM shampoo and  conditioner and the TRESemme line of
hair care products. INDOLA professional color bleaches,  shampoos,  conditioners
and styling products are sold throughout Europe and other international markets.
Other major international markets include Australia,  Canada, Italy, Mexico, New
Zealand and Puerto Rico.

The "Specialty  Distribution - Sally" business segment represents the operations
of Sally  Beauty  Company,  Inc.  which  operates  a network  of  cash-and-carry
professional beauty supply stores and also sells professional beauty products to
hairdressers,  beauticians  and  cosmetologists  through  its  own  full-service
distributors. Sally stores provide salon owners, hairdressers and consumers with
an extensive selection of hair care and skin care products,  cosmetics,  styling
appliances and other beauty items. Sales of the "Specialty Distribution - Sally"
business segment accounted for  approximately  50%, 49% and 51% of the company's
consolidated  net sales for the years ended  September 30, 1997,  1996 and 1995,
respectively.

Many  of  the  company's  consumer  products  are  developed  in  the  company's
laboratories.  New  products  introduced  by the  company are  assigned  product
managers who guide the products from  development  to the consumer.  The product
managers are  responsible  for the overall  marketing plans for the products and
coordinate advertising, promotion and market research activities.

MARKETING

The company allocates a large portion of its revenues to advertising,  promotion
and market research. Net earnings are materially affected by these expenditures,
which are charged to income in the period incurred.  Advertising,  promotion and
market research expenditures were $255.3 million in 1997, $208.4 million in 1996
and $188.0 million in 1995.

Advertising,  promotion,  and market  research  expenditures  relating  to a new
product will ordinarily constitute a higher percentage of sales than in the case
of a well-established  product. There can be no assurance that such expenditures
will result in consumer acceptance and profitability for a product.

The company  regards  television as the best medium for its advertising and uses
it  to  conduct  extensive  network,  spot  and  cable  television   advertising
campaigns.  The company also advertises  through other media such as newspapers,
magazines and radio as well as through Sally Beauty Company's direct mailings to
professional customers.

Extensive  advertising  and  promotion  are  required  to build  and  protect  a
product's  market position.  The company believes there is significant  consumer
awareness of its major brands and that such awareness is an important  factor in
the company's operating results.


                                      - 3 -


<PAGE>




COMPETITION

The markets for the company's branded consumer  products are highly  competitive
and  sensitive to changes in consumer  preferences  and demands.  The  company's
competitors  range in size from large,  highly  diversified  companies  (some of
which have substantially greater financial resources than the company) to small,
specialized producers.  The company competes on the basis of product quality and
price and believes  that brand  loyalty and consumer  acceptance  are  important
factors.  The company's markets are  characterized by frequent  introductions of
competitive products and by the entry of other manufacturers as new competitors,
both typically accompanied by extensive  advertising and promotional  campaigns.
Such campaigns are often very costly and can significantly  affect the sales and
earnings of the company and its competitors.

Sally  Beauty   Company   experiences   competition   from  local  and  regional
professional  beauty supply stores,  full-service  dealers  calling  directly on
salons  and a wide  range of retail  outlets  carrying  a limited  selection  of
professional beauty products.

DISTRIBUTION IN THE UNITED STATES

Retail health and beauty care products and food and household  products are sold
in  the  United  States   primarily   through  the  company's   sales  force  of
approximately  74 employees  and 131 food brokers  calling upon  wholesale  drug
establishments  and retail  outlets  such as  supermarkets,  drug  stores,  mass
merchandisers and variety stores.

Hair care products for the  professional  trade in the United States are sold by
company sales representatives and brokers to beauty supply outlets and to beauty
distributors who in turn sell to beauty salons, barber shops and beauty schools.

Sally Beauty Company sells its professional beauty supplies through full-service
distributors and its 1,833 stores located in 46 states,  Puerto Rico, the United
Kingdom, Japan and Germany. Sally's stores are self-service,  cash-and-carry and
are primarily  located in shopping  centers.  Sally operates the world's largest
chain of  professional  beauty supply stores and as such is a major  customer of
some of the company's competitors in the personal care products industry.  Sally
sells  the  company's  professional  hair  care  products,  but  these  products
represent only a small portion of Sally's selection of salon brands.

FOREIGN OPERATIONS

Products  of the  company  are sold in more  than 120  countries  or  geographic
regions,   primarily   through   direct  sales  by   subsidiaries,   independent
distributors and licensees.

The company's  foreign  operations are subject to risks inherent in transactions
involving foreign currencies and political uncertainties.

EMPLOYEES

In its domestic and foreign  operations,  the company had  approximately  11,000
full-time  equivalent  employees as of September  30, 1997,  consisting of 6,000
hourly  personnel  and 5,000  salaried  employees.  At September  30, 1996,  the
company had approximately 10,700 full-time equivalent employees. The increase in
employees in fiscal year 1997 is principally  due to the growth in the number of
Sally Beauty Company stores.

Certain  subsidiaries of the company have union contracts  covering  production,
warehouse,  shipping and maintenance personnel.  The company considers relations
with its employees to be satisfactory.

                                                     - 4 -


<PAGE>




REGULATION

The company is subject to the regulations of several federal and state agencies,
including  the  Federal  Food  and Drug  Administration  and the  Federal  Trade
Commission.

TRADEMARKS AND PATENTS

The company's  trademarks,  certain of which are material to its  business,  are
registered or legally protected in the United States, Canada and other countries
throughout  the world in which  products of the company are sold.  Although  the
company owns patents and has other patent applications  pending, its business is
not materially dependent upon patents or patent protection.


                                                     - 5 -


<PAGE>



ITEM  2.  PROPERTIES

The company's properties,  plants and equipment are maintained in good condition
and are suitable and adequate to support the business.  The company's  principal
properties  and their  general  characteristics  are  described in the following
table:
<TABLE>  
                                                                                               Business
Locate                                              Type of Facility                                    Segment

<CAPTION>
<S>                                                <C>                                                  <C>    
Company-Owned Properties:

Melrose Park, Illinois
  (2525 Armitage Avenue)                            Executive Offices, Manufacturing, Warehouse         (1)
  (2150 N. 15th Avenue)                             Manufacturing, Warehouse                            (1)
  (2100 N. 15th Avenue)                             Warehouse                                           (1)
  (1930 George Street)                              Office, Warehouse                                   (1)
Basingstoke, Hampshire, England                     Office                                              (1)
Columbus, Ohio                                      Warehouse                                           (2)
Denton, Texas                                       Office, Warehouse                                   (2)
Falun, Sweden                                       Office, Manufacturing, Warehouse                    (1)
Jacksonville, Florida                               Warehouse                                           (2)
Madrid, Spain                                       Office, Manufacturing, Warehouse                    (1)
Naguabo, Puerto Rico                                Manufacturing, Warehouse                            (1)
Naucalpan de Juarez, Mexico                         Office, Manufacturing, Warehouse                    (1)
North Rocks, New South Wales,
  Australia                                         Office, Manufacturing, Warehouse                    (1)
Reno, Nevada                                        Warehouse                                           (2)
Swansea, Wales, England                             Office, Manufacturing, Warehouse                    (1)
Tilburg, Holland                                    Office, Manufacturing, Warehouse                    (1)
Toronto, Ontario, Canada                            Office, Manufacturing, Warehouse                    (1)

Leased Properties:

Atlanta, Georgia                                    Warehouse                                           (1)
Albertslund, Denmark                                Office, Warehouse                                   (1)
Auckland, New Zealand                               Office, Warehouse                                   (1)
Chatsworth, California                              Office, Manufacturing, Warehouse                    (1)
Espoo, Finland                                      Office, Warehouse                                   (1)
Geneva, Switzerland                                 Office                                              (1)
Macedonia, Ohio                                     Warehouse                                           (2)
Morrow, Georgia                                     Warehouse                                           (2)
Ontario, California                                 Warehouse                                           (1)
Rakkestad, Norway                                   Office, Warehouse                                   (1)
Stockholm, Sweden                                   Office, Manufacturing, Warehouse                    (1)
Various (1,833 locations in  46 states,
  Puerto Rico, the United Kingdom, Japan            Sally Beauty Company Stores                         (2)
  and Germany)

(1)   Consumer Products
(2)   Specialty Distribution - Sally
</TABLE>

                                                     - 6 -


<PAGE>



ITEM 3. LEGAL PROCEEDINGS

There are no material legal proceedings pending.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

There were no matters  submitted  to a vote of  security  holders,  through  the
solicitation  of proxies  or  otherwise,  during the fourth  quarter of the year
ended September 30, 1997.

EXECUTIVE OFFICERS

The  following  table  sets  forth  the  names  and  current  positions  of  the
registrant's executive officers,  including their five-year business history and
ages.  Executive  officers  of the  company  and its  subsidiaries  are  elected
annually.

<TABLE>
<S>                                     <C>                                                              <C>
Name                                    Current Position and Five-Year Business History                  Age


Leonard H. Lavin (1)                    October, 1994 - Chairman; previously Chairman and                 78
                                        Chief Executive Officer for more than five years

Howard B. Bernick (1)                   October, 1994 - President and Chief Executive Officer;            45
                                        previously President and Chief Operating Officer for
                                        more than five years

Bernice E. Lavin (1)                    July, 1994 - Vice Chairman, Secretary and Treasurer;              72
                                        previously Vice President, Secretary and Treasurer for
                                        more than five years

Carol L. Bernick (1)                    October, 1994 - Executive Vice President  and Assistant           45
                                        Secretary, Alberto-Culver Company and President,
                                        Alberto-Culver  USA,  Inc., a subsidiary
                                        of   registrant;   September,   1992  to
                                        October, 1994 - Executive Vice President
                                        and Assistant Secretary

John T. Boone                           June, 1994 - Group Vice President, Domestic Consumer              62
                                        Products, Alberto-Culver USA, Inc., a subsidiary of
                                        registrant; August, 1993 to June, 1994 - Vice President,
                                        Operations, Modami Services, Inc.; August, 1991 to
                                        August, 1993 - President, JTB Management, Inc.

William J. Cernugel                     October, 1993 - Senior Vice President, Finance &                  55
                                        Controller;  April, 1982 to October, 1993 - Vice President,
                                        Finance & Controller



                                                     - 7 -


<PAGE>



Name                                    Current Position and Five-Year Business History                  Age


Raymond W. Gass                         July, 1997 - Senior Vice President, Law; March, 1989              60
                                        to June, 1997 - Vice President and General Counsel

John G. Horsman, Jr.                    January, 1994 - President, Alberto-Culver International,          59
                                        Inc.,   a  subsidiary   of   registrant;
                                        January,   1992  to   January,   1994  -
                                        Retired;  1978 to January,  1992 - Group
                                        Vice  President,  American Home Products
                                        Corporation

Thomas J. Pallone                       Vice President, Research and Development                          52

Michael H. Renzulli                     President, Sally Beauty Company, Inc., a subsidiary of            57
                                        registrant

Gary P. Schmidt                         July, 1997 - Vice President and General Counsel and
                                        Assistant Secretary; April, 1990 to June, 1997 -
                                        Vice-President and Secretary, Fujusawa USA, Inc.                  46


(1)   Leonard H. Lavin and Bernice E. Lavin are husband and wife.  Carol L. Bernick is the wife of Howard B.
      Bernick and the daughter of Mr. and Mrs. Lavin.

</TABLE>



                                                     - 8 -


<PAGE>



                                                      PART II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS

Information  required for this Item is  incorporated  herein by reference to the
section entitled "Market Price of Common Stock and Cash Dividends Per Share" and
notes  3  and  4  of  "Notes  to  Consolidated   Financial  Statements"  in  the
registrant's  annual  report to  stockholders  for the year ended  September 30,
1997.

ITEM 6.  SELECTED FINANCIAL DATA

Information  required for this Item is  incorporated  herein by reference to the
section entitled "Selected  Financial Data" in the registrant's annual report to
stockholders for the year ended September 30, 1997.

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS

Information  required for this Item is  incorporated  herein by reference to the
section entitled "Management's  Discussion and Analysis of Results of Operations
and Financial  Condition" in the registrant's  annual report to stockholders for
the year ended September 30, 1997.

ITEM 7a.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not Applicable.

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Information  required for this Item is  incorporated  herein by reference to the
consolidated  financial statements and notes and "Independent  Auditors' Report"
of KPMG Peat Marwick LLP in the  registrant's  annual report to stockholders for
the year ended September 30, 1997.

ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE

None.





                                                     - 9 -


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                                    PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

Information  required for this Item  regarding  the directors of the company and
regarding   delinquent  filers  pursuant  to  Item  405  of  Regulation  S-K  is
incorporated   herein  by  reference  to  the  sections  entitled  "Election  of
Directors"  and  "Section  16(a)  Beneficial  Ownership  Reporting  Compliance",
respectively,  in the  registrant's  proxy  statement for its annual  meeting of
stockholders on January 22, 1998.  Information  concerning Executive Officers of
the registrant is included in Part I of this report.

ITEM 11.  EXECUTIVE COMPENSATION

Information  required for this Item is  incorporated  herein by reference to the
section entitled  "Executive  Compensation" in the registrant's  proxy statement
for its annual meeting of stockholders on January 22, 1998.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

Information  required for this Item is  incorporated  herein by reference to the
sections  entitled  "Share  Ownership of Directors and  Executive  Officers" and
"Principal  Stockholders"  in the  registrant's  proxy  statement for its annual
meeting of stockholders on January 22, 1998.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

Information  required for this Item is  incorporated  herein by reference to the
section entitled  "Certain  Business  Relationships"  in the registrant's  proxy
statement for its annual meeting of stockholders on January 22, 1998.



                                                     - 10 -


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                                     PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

      (a)     Documents filed as part of this report:

              1.     Financial statements:

                     The  consolidated  financial  statements  and  notes  to be
                     included in Part II, Item 8 are  incorporated  by reference
                     to the  registrant's  annual report to stockholders for the
                     year ended September 30, 1997, which is filed as an exhibit
                     to this report.

              2. Financial statement schedules:

                     Description                                        Schedule

                     Valuation and Qualifying Accounts                     II

                     Schedules I, III, IV, and V are omitted as the  information
                     required by these schedules is not applicable.

              3.     Exhibits:

                     Exhibit
                     Number                Description

                     3(i)(a)          Copy   of    Restated    Certificate    of
                                      Incorporation  of  Alberto-Culver  Company
                                      (filed as  Exhibit  3(a) and  incorporated
                                      herein  by  reference  from the  company's
                                      Form 10-K Annual Report for the year ended
                                      September 30, 1988).

                     3(i)(b)          Copy  of the  amendment  to  the  Restated
                                      Certificate    of     Incorporation     of
                                      Alberto-Culver  Company  (filed as Exhibit
                                      3(i)(c)   and   incorporated   herein   by
                                      reference  from the  company's  Form  10-Q
                                      Quarterly  Report  for the  quarter  ended
                                      March 31, 1997).

                     3(ii)            Copy  of  the  By-Laws  of  Alberto-Culver
                                      Company,  as  amended  and in effect as of
                                      January 17, 1990 (filed as Exhibit 3(b)(1)
                                      and incorporated  herein by reference from
                                      the company's Form 10-Q  Quarterly  Report
                                      for the quarter ended December 31, 1989).



                                                     - 11 -


<PAGE>



              3.     Exhibits: (continued)

                     Exhibit
                     Number                      Description

                     4                     Certain   instruments   defining  the
                                           rights  of   holders   of   long-term
                                           obligations  of  the  registrant  and
                                           certain  of  its  subsidiaries   (the
                                           total amount of securities authorized
                                           under  each of which  does not exceed
                                           ten   percent  of  the   registrant's
                                           consolidated   assets)   are  omitted
                                           pursuant  to part 4 (iii) (A) of Item
                                           601  (b)  of   Regulation   S-K.  The
                                           registrant  agrees to furnish  copies
                                           of  any  such   instruments   to  the
                                           Securities  and  Exchange  Commission
                                           upon request.

                     4 (a)                 Copy of Note Agreement dated 
                                           September 28, 1993 among Alberto-
                                           Culver Company and Institutional 
                                           Investors (filed as Exhibit 4(f) and
                                           incorporated herein by reference from
                                           the company's Form 10-K Annual Report
                                           for the year ended September 30,
                                           1993).

                     4 (b)                 Copy of Indenture dated June 30, 1995
                                           by and between Alberto-Culver Company
                                           as Issuer and Bankers Trustee Company
                                           Limited as Trustee of 5 - 1/2%
                                           Convertible Subordinated Debentures
                                           due June 30, 2005 (filed as
                                           Exhibit 4(c) incorporated herein by
                                           reference from the company's Form
                                           10-K Annual Report for the year ended
                                           September 30, 1995).

                     10 (a)                Copy of Alberto-Culver Company 
                                           Management Incentive Plan dated
                                           October 27, 1994, as amended *.

                     10 (b)                Copy of Alberto-Culver Company 
                                           Employee Stock Option Plan of 1988,
                                           as amended *(filed as Exhibit 10(b) 
                                           and incorporated herein by reference
                                           from the company's Form 10-Q
                                           Quarterly Report for the quarter 
                                           ended December 31, 1996).
                                           

                     10 (c)                Copy of Alberto-Culver Company 1994
                                           Shareholder Value Incentive Plan,
                                           as amended *.

                     10 (d)                Copy of Alberto-Culver Company 1994
                                           Restricted Stock Plan, as amended
                                           *(filed as Exhibit 10(d) and incor-
                                           porated herein by reference from the
                                           company's Form 10-Q Quarterly Report
                                           for the quarter ended December 31,
                                           1996.)

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

                     10 (f)                Copy of Split Dollar Life Insurance
                                           Agreement dated September 30, 1993
                                           between Alberto-Culver Company and 
                                           the trustee of the Lavin Survivorship
                                           Insurance Trust * (filed as Exhibit
                                           10(e) and incorporated herein by
                                           reference from the company's Form
                                           10-K Annual Report for the year ended
                                           September 30, 1993).





                                                     - 12 -


<PAGE>



              3.     Exhibits: (continued)

                     Exhibit
                     Number                     Description


                     10 (g)                Form of Severance Agreement between
                                           Alberto-Culver Company and certain
                                           executive officers *(filed as Exhibit
                                           10(f) and incorporated herein by ref-
                                           erence from the company's Form 10-Q
                                           Quarterly Report for the quarter 
                                           ended December 31, 1996).

                     10 (h)                Copy of Multicurrency Credit Agree-
                                           ment dated as of September 11, 1997
                                           among Alberto-Culver Company, Bank of
                                           America National Trust and Savings
                                           Association as U.S. agent and the 
                                           other financial institutions parties
                                           thereto.

                     11                    Computation of net earnings per share

                     13                    Portions of annual report to stock-
                                           holders for the year ended September
                                           30, 1997 incorporated herein by 
                                           reference.

                     21                    Subsidiaries of the Registrant

                     23                    Consent of KPMG Peat Marwick LLP

                     27                    Financial Data Schedule


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


      (b)     Reports on Form 8-K:  None



                                                     - 13 -


<PAGE>



                                 SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) 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,  on the  12th  day of
December, 1997.

                                           ALBERTO-CULVER COMPANY

                                           By /s/  Howard B. Bernick
                                           Howard B. Bernick
                                           President and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following  persons on behalf of the  registrant and
in the capacities and on the dates indicated.

Signature                  Title                               Date

/s/ Leonard H. Lavin       Chairman of the Board               December 12, 1997
Leonard H. Lavin           and Director

/s/ Howard B. Bernick      President, Chief Executive          December 12, 1997
Howard B. Bernick          Officer and Director                

/s/ Bernice E. Lavin       Vice Chairman, Secretary,           December 12, 1997
Bernice E. Lavin           Treasurer and Director

/s/ Carol L. Bernick       Executive Vice President,           December 12, 1997
Carol L. Bernick           Assistant Secretary and Director

/s/ William J. Cernugel    Senior Vice President,              December 12, 1997
William J. Cernugel        Finance & Controller (Principal
                           Financial & Accounting Officer)

/s/ Robert Abboud          Director                            December 12, 1997
A. Robert Abboud

/s/ A.G. Atwater, Jr.      Director                            December 12, 1997
A. G. Atwater, Jr.

/s/ Robert P. Gwinn        Director                            December 12, 1997
Robert P. Gwinn

/s/ Leander W. Jennings    Director                            December 12, 1997
Leander W. Jennings

/s/ Allan B. Muchin        Director                            December 12, 1997
Allan B. Muchin

/s/ Robert H. Rock         Director                            December 12, 1997
Robert H. Rock

/s/ Dr. Harold M. Visotsky Director                            December 12, 1997
Dr. Harold M. Visotsky

/s/ William W. Wirtz       Director                            December 12, 1997
William W. Wirtz

                                                     - 14 -


<PAGE>


                              Independent Auditors' Report



        The Board of Directors and Stockholders
        Alberto-Culver Company:

        Under date of October 23, 1997, we reported on the consolidated  balance
        sheets of  Alberto-Culver  Company and  subsidiaries as of September 30,
        1997 and 1996  and the  related  consolidated  statements  of  earnings,
        retained  earnings,  and  cash  flows  for  each  of  the  years  in the
        three-year  period ended  September  30, 1997,  as contained in the 1997
        annual report to stockholders.  These consolidated  financial statements
        and our report  thereon  are  incorporated  by  reference  in the annual
        report on Form 10-K for the year 1997. In connection  with our audits of
        the aforementioned  consolidated  financial statements,  we also audited
        the related financial statement schedule as listed in Item 14(a)2 of the
        annual report on Form 10-K.  This  financial  statement  schedule is the
        responsibility  of the company's  management.  Our  responsibility is to
        express an opinion on this  financial  statement  schedule  based on our
        audits.

        In our opinion,  such financial statement  schedule,  when considered in
        relation  to the  basic  consolidated  financial  statements  taken as a
        whole,  presents fairly, in all material  respects,  the information set
        forth therein.



                                                      /s/ KPMG PEAT MARWICK LLP

                                                          KPMG PEAT MARWICK LLP





        Chicago, Illinois
        October 23, 1997



                                                     - 15 -


<PAGE>



                                                                    Schedule II



                     ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                        Valuation and Qualifying Accounts
                                   (Thousands)


                                                 Year Ended September 30,

                                          1997              1996           1995
Allowance for doubtful accounts:

   Balance at beginning of period       $8,208              5,663         5,497

   Additions (deductions):

      Charged to costs and expenses      5,664              6,309         3,277

      Uncollectible accounts
        written off, net of
        recoveries                      (4,820)            (4,326)       (3,187)

      Allowance for doubtful accounts
        of acquired company                 --                580            --

   Other                                   (10)               (18)           76
                                           ---                ---            --


   Balance at end of period              $9,042             8,208         5,663
                                         ======             =====         =====
                                                 -16-