Stock of Sally Beauty Holdings, Inc. (SBH), a major retailer and provider of beauty supplies, is experiencing a rise of more than 7% this Thursday morning following a first-quarter report that exceeded expectations.
The profit for the first quarter, however, dropped to $38.39 million or $0.35 per share, a decrease from last year's first-quarter figures of $50.34 million, or $0.46 per share.
When you take out certain items, Sally Beauty's earnings stood at $41.95 million or $0.39 per share. This surpassed Wall Street's projections, as reported by Thomson Reuters, of $0.37 per share.
The company's revenue, however, took a 2.7% hit, dropping to $931.30 million from $957.06 million in the previous year. Interestingly, this was still more than the expected consensus estimate of $929.56 million.
At the moment, Sally Beauty shares are valued at $13.27. Over the past year, the stock's value has fluctuated between $7.21 and $18.42.
