Renowned beauty products retailer —
Sally Beauty Holdings ( SBH Quick Quote SBH - Free Report) — is expanding its hair color assortment by introducing more than 60 shades. This omni-channel retailer and leader in hair color informed that the new shades will be available from this month onward. The new shades will be featured by some of its top brands. Let’s take a closer look at this latest development. Expanding Hair Color Collection Looks Prudent
The 60 new hair color shades will be made available through brands exclusively available at Sally Beauty like Ion, Iroiro, and Color Lux; along with other top brands like Good Dye Young, Wella Colorcharm Paints, Manic Panic, Lime Crime and One 'n Only.
Sally Beauty takes pride in its strong collection of vibrant and bright hair colors. In fact, with more than 1,200 shares, the company holds one of the largest hair color assortments in the industry. Its hair color range includes professional, vibrant brights and root touch-up hair color. The company’s move to further expand its already vast hair color assortment is likely to add greater competitive strength. Also, the expansion is in line with the company’s commitment toward becoming a one-stop destination for hair color. Moreover, by launching new shades the company can take advantage of consumers’ growing inclination toward at-home grooming and do-it-yourself (DIY) beauty practices. Management informed that throughout the pandemic the company witnessed growth in consumer purchase of vibrant as well as traditional hair colors. In fact, hair color was seen to become a form of self-expression amid the pandemic. The company also provides education and insights regarding its products through the revolutionary ColorView AI platform. The technology helps consumers to virtually try on different hair color shades. It also provides information through digital channels and virtual classes. Wrapping Up
We note that Sally Beauty has been grappling with headwinds such as temporary store closures across some of its markets, due to the pandemic. In fact, this Zacks Rank #4 (Sell) company has been witnessing mandated store closures in Europe, Canada and Latin America as well as capacity restrictions in several domestic markets. This has taken a toll on sales in the company’s Beauty Systems Group (BSG) segment. Net sales in the segment dropped 5.5% during first quarter of fiscal 2021. Moreover, the company’s top line fell 4.5% in the quarter owing to pandemic-induced hurdles.
Nevertheless, Sally Beauty has remained committed toward product expansions and introducing new brand partners in order to stay relevant in the evolving beauty industry. Moreover, its focus on boosting e-commerce offerings as well as enhancing operational efficiency through cost curtailment is encouraging. Such upsides are likely to keep supporting the company’s performance in the forthcoming periods. Shares of the company have gained 48.6% in the past three months compared with the industry’s rise of 6.4%. Check These Key Picks L Brands, Inc. ( LB Quick Quote LB - Free Report) , flaunting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 13%. You can see . the complete list of today’s Zacks #1 Rank stocks here Abercrombie & Fitch Company ( ANF Quick Quote ANF - Free Report) , also with a Zacks Rank #1, has a long-term earnings growth rate of 18%. Five Below, Inc. ( FIVE Quick Quote FIVE - Free Report) , holding a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 32.8%. Breakout Biotech Stocks with Triple-Digit Profit Potential
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