Sally Beauty Holdings, Inc.
|Company Name||Sally Beauty Holdings, Inc.|
On February 6, 2020, Sally Beauty announced its first quarter 2020 financial results in a press release. Therein, the Company reported net sales of $980.2 million, a 0.9% decline over the prior year period. According to Sally Beauty’s Chief Executive Officer (“CEO”) Chris Brickman, the shortfall was due, in part, to “implementation-related technology disruptions” which “led to product pricing issues, the misapplication and unintended increase of promotional discounts, and a resulting disruption of [the Company’s] planned marketing activities during the quarter.”
On this news, the Company’s share price fell $2.48, or over 15%, to close at $13.50 per share on February 7, 2020, on unusually heavy trading volume
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