S&P moves Sally Beauty view to stable

S&P said it revised the outlook for Sally Beauty Holdings Inc. to stable from positive and affirmed all its ratings, including the BB- issuer rating.

“Challenging macroeconomic conditions and accelerated store closures will further impede SBH's growth prospects over the next 12 months. The company reported slowing performance trends in fiscal 2022 ended Sept. 30, 2022, including a 1.5% decline in revenue and 0.6% increase in comparable sales, which were negative 0.6% at Sally Beauty Supply (SBS) stores and positive 2.3% at Beauty Systems Group (BSG) locations,” the agency said in a press release.

S&P said it forecasts SBH to post a low-single-digit percentage decline in revenue for fiscal 2023 and roughly flat revenue growth in fiscal 2024.

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