Beauty Buyers Trade Down

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	Beauty Buyers Trade Down

Lauren Sherman

8-8-2008 10:10 AM

723 views

Lauren Sherman says:

Sally Beauty says that its doubled profits can be partly attributed to buyers letting go of favorite "designer" beauty brands and replacing them with cheaper alternatives.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/998adf7a-3b71-4105-8f3e-41fdd3821b9a/4B087E22-6360-4D93-BB84-E9710774C543/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.wwd.com/beauty-industry-news/sally-beauty-doubles-profit-1706255?src=nl/mornReport/20080808" href="http://www.wwd.com/beauty-industry-news/sally-beauty-doubles-profit-1706255?src=nl/mornReport/20080808" style="font-size: 11px;">www.wwd.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.wwd.com/beauty-industry-news/sally-beauty-doubles-profit-1706255?src=nl/mornReport/20080808">Third-quarter profits at Sally Beauty Holdings Inc. more than doubled on a 3.4 
percent increase in same-store sales, which executives attributed in part to 
customers trading down from pricier salon brands to less-expensive hair care 
products.<BR><BR>Net earnings for the quarter ended June 30 leapt 118.3 percent 
to $29.4 million, or 16 cents a diluted share, from $13.4 million, or 7 cents, 
in the same period last year.<BR><BR>An interest rate swap that resulted in a 
$7.6 million noncash credit helped reduce Sally’s interest expenses to $29.9 
million, from $36.8 million in the year-ago quarter, contributing to the boost 
in profits. Adjusted earnings per share came in at 13 cents after the firm 
accounted for the interest credit, beating Wall Street analysts’ earnings 
estimates of 10 cents per share.<BR></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4B087E22-6360-4D93-BB84-E9710774C543/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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