There are good reasons that Sally is trying to become everyone’s go-to source for hair.
Hair color and care product sales increased 3 percent last year and it was the only salon category with any decent growth, Bulsara said. It propped up the entire salon category, which grew only 1.6 percent in the U.S. last year.
“Hair color is the anchor service that brings clients into the salons for all other services such as cutting, styling and straightening,” Bulsara said.
Half of that growth is coming from aging baby boomers, he said. “And the other half from the working professional who wants fashionable highlights and color that makes them look young.”
For its fiscal quarter, Sally Beauty reported a 21 percent decline in profit to $65.7 million, or 54 cents a share, compared with $83.3 million, a 65 cents a share, a year ago. The decline was almost all from a one-time tax benefit the prior year.