NEW YORK (Reuters) - Consumer products company Alberto-Culver Co (ACV.N: Quote, Profile, Research) reported a 29 percent rise in quarterly profit on Monday, boosted by demand for its TRESemme hair care products.

But its quarterly sales were below Wall Street estimates, and shares of the company were down over 8 percent in early afternoon trading.

"While more moderate organic sales growth in the quarter may give some investors pause, we believe the company's top-line outlook remains strong," wrote William Blair & Co analyst Jon Andersen in a research note.

The company, whose products also include Alberto VO5 shampoo, Mrs. Dash seasonings and St. Ives body lotion said profit was $29.03 million, or 28 cents per share, for its second quarter ended March 31, compared with $22.56 million, or 23 cents per share, a year ago.

Earnings per share excluding restructuring charges and a tax benefit were 28 cents, meeting analysts' average estimate, according to Reuters Estimates.

Sales rose almost 8 percent to $412.8 million from $383.4 million, with its TRESemme line generating double-digit sales growth, the company said. It is now in the early stages of launching the TRESemme hair care line in Spain, and it will back the launch with a strong advertising campaign.

But the latest quarter's sales were below analysts' estimate for sales of $424.62 million.

Chief Executive V. James Marino said on a conference call that in the United States, VO5 sales decreased, and sales of St. Ives lotions and scrubs were "a bit soft."

Consumers are getting a little bit more discerning in terms of which products they are buying, but they are not trading down to cheaper brands, he said.