Sally Beauty backs view of approx. flat FY consolidated SSS growth
Based on fiscal year to date results and expectations for the fiscal fourth quarter, the company is maintaining its expectation of approximately flat full year consolidated same store sales growth, and now expects full year net new store growth of approximately 1.5%. The company expects full year gross margin expansion of approximately 30 basis points, full year adjusted SG&A in the range of 34.2% to 34.4% of sales, and full year reported and adjusted operating income growth of approximately flat to the prior year. Taking further into account the expected benefits from the recent debt refinancing and the year to date share repurchases, the Company expects solid growth in both reported and adjusted full year earnings per share.