Why Sally Beauty Stock Plummeted Today

Shares of Sally Beauty Holdings (NYSE: SBH) plummeted by as much as 10% today after the company reported fiscal first-quarter earnings. The results were mixed compared to analyst expectations.

Revenue in the fiscal first quarter came in at $936 million, missing the Street's forecast of $967.9 million in sales. That resulted in adjusted earnings per share of $0.50, beating the $0.47 per share in adjusted profits the market was looking for. Comparable store sales declined by 3.7% due to store closures in international markets related to the ongoing pandemic.

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Source Fool.com