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By
Reuters
Published
Jul 30, 2009
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Sally Beauty third-quarter profit rises

By
Reuters
Published
Jul 30, 2009

CHICAGO, July 30 (Reuters) - Sally Beauty Holdings Inc's (SBH.N) higher quarterly profit met expectations on Thursday 30 July as the company opened more stores that sell beauty products and saw sales increase at its existing stores.


Sally Beauty - Photo: www.sallybeauty.com

Net earnings rose to $31.5 million, or 17 cents per share, in the fiscal third quarter ended on June 30, from $29.4 million, or 16 cents per share, a year earlier.

On an adjusted basis, Sally Beauty earned 16 cents per share, up from 13 cents a year earlier and in line with analysts' expectations.

The company, which also sells professional beauty supplies through sales consultants, said net sales slipped 0.5 percent to $673.3 million. Same-store sales rose 2.6 percent. (Reporting by Jessica Wohl; editing by John Wallace)

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