February 8, 2018 / 11:59 AM / 8 months ago

BRIEF-Sally Beauty Holdings Posts Q1 Adj. Earnings Per Share $0.68

Feb 8 (Reuters) - Sally Beauty Holdings Inc:

* SALLY BEAUTY HOLDINGS, INC. ANNOUNCES FIRST QUARTER RESULTS

* ‍SAME STORE SALES DECREASED 2.2% IN QUARTER​

* NOW EXPECTS 2018 FULL YEAR GROSS MARGIN TO BE APPROXIMATELY FLAT COMPARED TO THE PRIOR YEAR

* FOR 2018, CO IS MAINTAINING ITS GUIDANCE OF FULL YEAR CONSOLIDATED SAME STORE SALES TO BE ABOUT FLAT

* SALLY BEAUTY-STILL EXPECTS TOTAL CHARGES RELATED TO 2018 RESTRUCTURING PLAN IN RANGE OF $13 MILLION TO $14 MILLION, WITH ABOUT $12 MILLION TO BE RECORDED IN 2018

* SALLY BEAUTY HOLDINGS - FULL YEAR REPORTED OPERATING EARNINGS STILL EXPECTED TO RISE SLIGHTLY, DUE TO LOWER RESTRUCTURING COSTS IN FY 2018

* FOR Q1, COMPANY RECORDED AN INCOME TAX BENEFIT OF ABOUT $33.6 MILLION

* SALLY BEAUTY - ‍HURRICANES THAT DISRUPTED OPERATIONS IN Q4 2017 CONTINUED TO HAVE “LINGERING EFFECT” ON PUERTO RICO BUSINESS, PARTICULARLY IN H1 OF QUARTER

* EXPECTS FULL YEAR 2018 GROSS MARGIN TO BE APPROXIMATELY FLAT COMPARED TO PRIOR YEAR

* COMPANY NOW EXPECTS FULL YEAR 2018 GROSS MARGIN TO BE APPROXIMATELY FLAT COMPARED TO PRIOR YEAR

* SALLY BEAUTY HOLDINGS - FULL YEAR 2018 ADJUSTED OPERATING EARNINGS ARE STILL EXPECTED TO DECLINE SLIGHTLY

* ‍RESTRUCTURING CHARGES OF APPROXIMATELY $5.2 MILLION, RELATED PRIMARILY TO EMPLOYEE SEPARATION COSTS, WERE RECORDED IN Q1​

* Q1 REVENUE VIEW $990.0 MILLION — THOMSON REUTERS I/B/E/S

* SALLY BEAUTY HOLDINGS - EXPECTS STRONG DOUBLE DIGIT GROWTH IN BOTH FULL YEAR REPORTED AND ADJUSTED DILUTED EARNINGS PER SHARE IN 2018

* ‍STILL EXPECTS TOTAL CHARGES RELATED TO 2018 RESTRUCTURING PLAN IN RANGE OF $13 MILLION TO $14 MILLION​

* “CONSISTENT WITH OUR EXPECTATIONS, THIS WAS A CHALLENGING QUARTER IN TERMS OF REVENUE GROWTH”

* ‍AT END OF QUARTER, INVENTORY WAS $941.1 MILLION, UP 1.1% FROM PRIOR YEAR​

* BUSINESS IN Q1 WAS IMPACTED BY A CONTINUATION OF DISAPPOINTING TRAFFIC TRENDS IN U.S. SALLY BEAUTY STORES

* ‍NEGATIVE IMPACT OF HURRICANES ON SALES GROWTH AND SAME STORE SALES GROWTH WAS APPROXIMATELY 40 BASIS POINTS IN QUARTER​

* Q1 EARNINGS PER SHARE VIEW $0.42, REVENUE VIEW $990.0 MILLION — THOMSON REUTERS I/B/E/S

* SALLY BEAUTY- BUSINESS IN Q1 IMPACTED BY EXTRA DAY OF STORE CLOSURES FOR BEAUTY SYSTEMS GROUP COSMOPROF STORES DUE TO HOLIDAY CALENDAR, OTHERS

* “‍THIS WAS A CHALLENGING QUARTER IN TERMS OF REVENUE GROWTH”​ Source text for Eikon: Further company coverage:

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