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Investing.com — Sally Beauty (NYSE:SBH) Holdings Inc. rose 4.9% after reporting an estimated 33% jump in June sales from the previous month.
Enterprise-wide estimated sales for June of $348 million are up 9% year-over-year, the company said in a statement.
The specialty retailer and professional beauty supply distributor also said it had $815 million in cash on-hand as of June 30, with an additional $200 million of undrawn capacity on its asset-based line of credit. Retail and wholesale stores have largely reopened in the U.S., Canada, the EU and the U.K., with stores in Mexico and Latin America to return in the coming months.
Sally Beauty said e-commerce grew 353% in April, 317% in May and 155% in June. E-commerce revenue totaled $183 million in 2019, according to ecommerceDB.
Shares hit an 11-year low in March, and have more than doubled since then.
