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, 1996

                                    -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, 1996 was $400.6 million for Class A Common Stock and $365.0 million
for Class B Common Stock.

At November  25,  1996,  there were  11,074,894  shares of Class A Common  Stock
outstanding and 16,766,240 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, 1996

Part III..............   Portions of proxy statement and notice of annual
                         meeting of stockholders on January 23, 1997

                                   -1-

<PAGE>
                                  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 1,656 stores as of September 30, 1996 in the
United States, Puerto Rico, the United Kingdom, Japan and Germany.

In February 1996,  the company  acquired St. Ives  Laboratories,  Inc. (St.
Ives) for  approximately  $110  million.  St. Ives  develops,  manufactures  and
markets  personal care products  under its SWISS FORMULA brand and  manufactures
custom label products for sale by other companies.

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
registrant's  annual  report to  stockholders  for the year ended  September 30,
1996.

PRODUCTS

The classes of products in the  "Consumer  Products"  business  segment  include
health and beauty care  products  and food and  household  products.  Health and
beauty  care  products  accounted  for  approximately  43%,  39%  and 39% of the
company's  consolidated  net sales for the years ended  September 30, 1996, 1995
and 1994, respectively.  Food and household products accounted for approximately
8%,  10% and 9% of the  company's  consolidated  net sales  for the years  ended
September 30, 1996, 1995 and 1994, 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, 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.

The company's consumer products are sold in more than 100 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  anti-perspirants  and cologne for women,  FAMILY FRESH shampoo and
shower products,  SUKETTER artificial sweetener,  HEMANENT home permanents,  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, China, Hong Kong,
Italy, Mexico, New Zealand and Puerto Rico.

                                   - 2 -

<PAGE>

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  49%, 51% and 52% of the company's
consolidated  net sales for the years ended  September 30, 1996,  1995 and 1994,
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 for all periods are  materially  affected by
advertising,  promotion and market research expenditures. These expenditures are
charged  to  income  in the  period  in which  they are  incurred.  Advertising,
promotion and market research  expenditures  were $208.4 million in 1996, $188.0
million in 1995 and $178.5 million in 1994.

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.

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  68 employees  and 122 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.

                                     - 3 -

<PAGE>

Sally Beauty Company sells its professional beauty supplies through full-service
distributors and its 1,656 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 100  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 fluctuating exchange rates.

EMPLOYEES

In its domestic and foreign  operations,  the company had  approximately  10,700
full-time  equivalent  employees as of September  30, 1996,  consisting of 6,200
hourly  personnel  and 4,500  salaried  employees.  At September  30, 1995,  the
company had approximately 9,900 full-time equivalent employees.  The increase in
employees in fiscal year 1996 is principally  due to the growth in the number of
Sally Beauty Company stores and the acquisition of St. Ives Laboratories, Inc.

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.

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.

                                  - 4 -
<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

                                                                        Business
Location                      Type of Facility                           Segment

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)
Atlanta, Georgia                 Warehouse                                   (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:

Albertslund, Denmark             Office, Warehouse                           (1)
Auckland, New Zealand            Office                                      (1)
Basingstoke, Hampshire, England  Office                                      (1)
Chatsworth, California           Office, Manufacturing, Warehouse            (1)
Espoo, Finland                   Office, Warehouse                           (1)
Macedonia, Ohio                  Warehouse                                   (2)
Morrow, Georgia                  Warehouse                                   (2)
Rakkestad, Norway                Office, Warehouse                           (1)
Sparks, Nevada                   Office, Warehouse                           (1)
Stockholm, Sweden                Office, Manufacturing, Warehouse            (1)
Various (1,656 locations in  46 states,
  Puerto Rico, the United Kingdom, Japan
  and Germany)                   Sally Beauty Company Stores                 (2)

(1)   Consumer Products
(2)   Specialty Distribution - Sally

                                   - 5 -

<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, 1996.

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.

Name                  Current Position and Five-Year Business History        Age

Leonard H. Lavin (1)  October, 1994 - Chairman; previously Chairman and       77
                      Chief Executive Officer for more than five years

Howard B. Bernick (1) October, 1994 - President and Chief Executive Officer;  44
                      previously President and Chief Operating Officer for
                      more than five years

Bernice E. Lavin (1)  July, 1994 - Vice Chairman, Secretary and Treasurer;    71
                      previously Vice President, Secretary and Treasurer for
                                        more than five years

Carol L. Bernick (1)  October, 1994 - Executive Vice President  and Assistant 44
                      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; October, 1990 to September, 1992
                      - Executive Vice President, Worldwide Marketing and
                      Assistant Secretary

John T. Boone         June, 1994 - Group Vice President, Domestic Consumer    61
                      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 &        54
                      Controller;  April, 1982 to October, 1993 -Vice President,
                      Finance & Controller

                                      - 6 -
<PAGE>

Name                 Current Position and Five-Year Business History        Age


David D. DeTomaso    October, 1993 - Senior Vice President, Professional      53
                     Domestic Division, Alberto-Culver USA, Inc., a
                     subsidiary of registrant;  May, 1983 to October, 1993 -
                     Vice President, Professional Domestic Division

Raymond W. Gass      Vice President and General Counsel                       59

John G. Horsman, Jr. January, 1994 -President, Alberto-Culver International,  58
                     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                 51

Michael H. Renzulli  President, Sally Beauty Company, Inc., a subsidiary of   56
                     registrant


(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.

                                       - 7 -

<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
note 4 of "Notes  to  Consolidated  Financial  Statements"  in the  registrant's
annual report to stockholders for the year ended September 30, 1996.

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, 1996.

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, 1996.

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, 1996.

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

None.

                                    - 8 -

<PAGE>

                               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 23, 1997.  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 23, 1997.

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 23, 1997.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

None.

                                 - 9 -

<PAGE>
                               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, 1996, 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

                     2 (a)            Copy of Agreement and Plan of Merger,
                                      dated as of October 30, 1995, between
                                      Alberto- Culver Company, AC Acquiring Co.,
                                      and St. Ives Laboratories, Inc. (filed as
                                      Exhibit 2 and incorporated herein by
                                      reference from the company's Schedule 13D
                                      filed on November 7, 1995).

                     2 (b)            Copy of stockholders stock option
                                      agreement, dated as of october 30, 1995,
                                      among alberto-culver company, gary h.
                                      Worth, john r. Worth, the house of worth
                                      trust dated july 9, 1982 as amended,
                                      the worth family trust under an agreement
                                      dated november 24, 1990 and the worth
                                      family partnership, l.P. (Filed as exhibit
                                      1 and incorporated herein by reference
                                      from the company's schedule 13d filed on
                                      november 7, 1995).

                     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(a)(1)   and   incorporated   herein   by
                                      reference  from the  company's  Form  10-Q
                                      Quarterly  Report  for the  quarter  ended
                                      December 31, 1989).

                     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).

              3.     Exhibits: (continued)

                     Exhibit
                     Number           Description

                     4                Certain instruments defining the rights
                                      of holders of long-term obligations of the

                                                     - 10 -

<PAGE>
                                           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)and 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 *(filed as Exhibit
                                           10(a) and incorporated herein by
                                           reference from the company's Form
                                           10-Q Quarterly Report for the quarter
                                           ended March 31, 1995).

                     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-K Annual
                                           Report for the year ended September
                                           30, 1995).

                     10 (c)                Copy of Alberto-Culver Company 1994
                                           Shareholder Value Incentive Plan
                                           * (filed as Exhibit 10(C)and
                                           incorporated herein by reference from
                                           the company's Form 10-Q Quarterly
                                           Report for the quarter ended March
                                           31, 1995).

                     10 (d)                Copy of Alberto-Culver Company 1994
                                           Restricted Stock Plan *(filed as
                                           Exhibit 10(d) and incorporated herein
                                           by reference from the company's Form
                                           10-Q Quarterly Report for the quarter
                                           ended March 31, 1995.)

                     10 (e)                Copy of Alberto-Culver Company 1994
                                           Stock Option Plan for Non-Employee
                                           Directors *(filed as Exhibit 10(e)
                                           and incorporated herein by reference
                                           from the company's Form 10-Q
                                           Quarterly Report for the quarter
                                           ended March 31, 1995).

                     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).


              3.     Exhibits: (continued)

                     Exhibit
                     Number               Description

                                     - 11 -


                     11                    Computation of net earnings per share

                     13                    Portions of annual report to
                                           stockholders for the year ended
                                           September 30, 1996 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


                                 - 12 -

<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, 1996.
                                           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.
<TABLE>
<CAPTION>

           Signature                                 Title                                        Date
<S>                                        <C>                                            <C> 
/s/ Leonard H. Lavin                       Chairman of the Board                          December 12, 1996
Leonard H. Lavin                           and Director

/s/ Howard B. Bernick                      President, Chief Executive                     December 12, 1996
Howard B. Bernick                          Officer and Director

/s/ Bernice E. Lavin                       Vice Chairman, Secretary,                      December 12, 1996
Bernice E. Lavin                           Treasurer and Director

/s/ Carol L. Bernick                       Executive Vice President,                      December 12, 1996
Carol L. Bernick                           Assistant Secretary and Director

/s/ William J. Cernugel                    Senior Vice President,                         December 12, 1996
William J. Cernugel                        Finance & Controller (Principal
                                           Financial & Accounting Officer)

/s/ Robert Abboud                          Director                                       December 12, 1996
A. Robert Abboud

/s/ A.G. Atwater                           Director                                       December 12, 1996
A. G. Atwater

                                           Director                                       December 12, 1996
Robert P. Gwinn

/s/ Leander W. Jennings                    Director                                       December 12, 1996
Leander W. Jennings

/s/ Allan B. Muchin                        Director                                       December 12, 1996
Allan B. Muchin

/s/ Robert H. Rock                         Director                                       December 12, 1996
Robert H. Rock

/s/ Dr. Harold M. Visotsky                 Director                                       December 12, 1996
Dr. Harold M. Visotsky

/s/ William W. Wirtz                       Director                                       December 12, 1996
William W. Wirtz
</TABLE>
                                        - 13 -


<PAGE>



                                              Independent Auditors' Report



        The Board of Directors and Stockholders
        Alberto-Culver Company:

        Under date of October 23, 1996, we reported on the consolidated  balance
        sheets of  Alberto-Culver  Company and  subsidiaries as of September 30,
        1996 and 1995  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, 1996,  as contained in the 1996
        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 1996. In connection  with our audits of
        the  aforementioned  consolidated  financial  statements,  we also  have
        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, 1996



                                                        - 13 -


<PAGE>



                                                                     Schedule II



                     ALBERTO-CULVER COMPANY AND SUBSIDIARIES

                        Valuation and Qualifying Accounts
                                   (Thousands)


                                                       Year Ended September 30,

                                       1996              1995               1994
Allowance for doubtful accounts:

   Balance at beginning of period     $5,663              5,497           5,493

   Additions (deductions):

      Charged to costs and expenses    6,309              3,277           3,412

      Uncollectible accounts
        written off, net of
        recoveries                    (4,326)            (3,187)         (3,588)

      Allowance for doubtful accounts
        of acquired company              580                --               83

   Other                                 (18)                76              97

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


                                      - 14 -