Sally Beauty Customers Are Struggling. The Stock Gets a Downgrade. [MarketWatch]
Sally Beauty Holdings, Inc. (Name to be changed from Sally Holdings, Inc.) (SBH)
Last sally beauty holdings, inc. (name to be changed from sally holdings, inc.) earnings: 2/6 06:45 am
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Source: MarketWatch
Sally Beauty (ticker: SBH) is geared mostly toward lower-income consumers, and red hot inflation is hitting those consumers particularly hard, said Morgan Stanley analyst Simeon Gutman. As a result, they are likely to shift spending to nondiscretionary items such as gas and groceries. Gutman downgraded his rating of Sally Beauty to Underweight from Equal Weight and cut his price target on the stock to $12 from $19. “While the degree of discretionary exposure is debatable for core hair color products, ancillary categories like nails and lashes are likely to see softness as low income discretionary dollars dry up (driven by inflation and the lapping of stimulus),” Gutman said in a research note. Shares of Sally Beauty were down 13.6% on Thursday, on pace for its worst day since March 2020, when it fell 13.8%. The S&P 500 was 3.3% lower on Thursday. Gutman said that another problem for Sally Beauty could be its slow movement to build out its omnichannel offerings. The company
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News
- Sally Beauty (SBH) Q2 Earnings Miss Estimates, Sales Drop Y/Y [Yahoo! Finance]Yahoo! Finance
- Sally Beauty Holdings, Inc. (NYSE:SBH) Q2 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Sally Beauty Holdings Second Quarter 2024 Earnings: EPS Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Sally Beauty (SBH) Reports Q2 Earnings: What Key Metrics Have to Say [Yahoo! Finance]Yahoo! Finance
- Sally Beauty Holdings Reports Second Quarter Fiscal 2024 Results [Yahoo! Finance]Yahoo! Finance
SBH
Earnings
- 5/9/24 - Miss
SBH
Sec Filings
- 5/9/24 - Form S-3ASR
- 5/9/24 - Form 10-Q
- 5/9/24 - Form 8-K
- SBH's page on the SEC website