The beloved brand will close some doors in the upcoming months.
has to do with inflation. According to Gutman, Sally Beauty is geared mostly toward lower-income consumers who are being hit particularly hard by rising inflation and have shifted their spending more to necessities like gas and groceries as a result.
In a statement, Paulonis said that the company will be executing three strategic initiatives as they enter the 2023 fiscal year to improve its financial performance. One of these initiatives is to increase the efficiency of Sally Beauty Holding Inc.'s operations, which includes transforming its retail footprint.
"The company is accelerating its store optimization plan, including the closure of approximately 350 stores," the new report stated. Most of the store closings will be Sally Beauty locations throughout the U.S., and the majority will start closing in Dec. 2022. There are currently a total of 3,439 Sally Beauty Supply stores globally, but the company did not disclose which exact locations will be shutting down.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sally Beauty plans to close hundreds of storesThe retailer made the announcement on an earnings call on Thursday.
Read more »
San Antonio jewelry store Moretti's closing after 40 years in businessThe business started in Alamo Heights in the 1980s and has since outgrown that and one other location. SanAntonio SATX SanAntonioTX
Read more »
Every Restaurant Opening and Closing This Week, November 5-11A duo of new additions to Cherry Creek and more.
Read more »
Rihanna Soundtracks 'Black Panther: Wakanda Forever' Closing Credits With New Ballad 'Born Again'When the end credits roll on WakandaForever, rihanna’s voice will flow through the theater.
Read more »
These Popular U.S. National Parks Are Closing Areas to VisitorsOfficials announced that Hawai'i Volcanoes National Park and Kaloko-Honokōhau National Historical Park are closing certain areas to visitors.
Read more »