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Why Sally Beauty Stock Jumped 11% Today

TheMotleyFool

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Shareholders of Sally Beauty (NYSE: SBH) beat the market on Thursday, as shares rose 11% by 12:45 p.m. EST. The beauty supply retailer reported solid quarterly earnings while forecasting more gains in the new fiscal year that just began.

Sales through late September, which marks the end of Sally Beauty's fiscal year, rose 3% in the fourth quarter, management reported in a filing with the Securities and Exchange Commission today. Comparable-store sales were up 2.1%, beating the forecast that executives issued back in August.

Image source: Getty Images.

Source Fool.com

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