Why Sally Beauty Holdings Stock Soared Today
Shares of Sally Beauty Holdings (NYSE: SBH) surged 20% on Thursday, following the release of the specialty retailer's fiscal fourth-quarter results.
The struggling retailer's net sales stabilized at $966 million, as a 1.1% rise in consolidated same-store sales offset store closures and a negative impact from foreign exchange. The gains were fueled in part by a 27.4% jump in e-commerce sales.
Moreover, Sally Beauty Holdings' profitability improved significantly. The company's non-GAAP (adjusted) earnings per share -- which excludes restructuring and other non-recurring charges -- climbed 13.7% to $0.58. That was above analysts' expectations for adjusted EPS of $0.53.
Source Fool.com
