Sally Beauty sees FY23 revenue decline in low-single digits, consensus $3.72B

Revenue guidance reflects approximately 150 to 200 basis points of unfavorable impact due to store closures net of expected sales recapture rates from optimization efforts, and approximately 150 basis points of anticipated impact from foreign exchange headwinds. Comparable sales, notwithstanding a notable change in consumer behavior, are expected to increase by low single digits compared to the prior year, driven by growth in key categories, sales transfer from store closures, our expanded Regis distribution and new strategic initiatives. Gross margin is expected to remain above 50%; and adjusted operating margin is expected to be in the range of 8.5% and 9.5%.