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DENTON, Texas - Sally Beauty Holdings Inc., which sells and distributes salon products, said Thursday its first-quarter profit soared on a boost in sales but still fell below Wall Street analysts' expectations.
| SBH | 6.84 |  0.27 |
For the quarter ended Dec. 31, net income rose to $14.3 million, or 8 cents per share, from $3.1 million, or 2 cents per share, in the same quarter last year.
Analysts polled by Thomson Financial expected earnings of 9 cents per share.
Sales rose 4 percent to $655.8 million from $629.9 million in the first quarter of 2007. Analysts expected revenue of $662.8 million.
The company said its same-store sales, or sales at stores open at least 14 months, rose 2.1 percent.
Same-store sales is a key indicator of retailer performance because it measures growth at existing stores rather than newly opened ones.
Sally Beauty said its same-store sales were not as strong as it anticipated because of slow holiday sales and unfavorable weather in December.
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