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Alberto-Culver Q1 financials

This article was originally published in The Rose Sheet

Executive Summary

Ad, promotional investment increased 11.7% in first quarter to compensate for recessionary economy, CEO Howard Bernick tells analysts during 11Alberto-Culver first quarter sales and earnings announcement Jan. 24. Sales in the quarter increased 8.9% to $614.3 mil., with figures restated to reflect new GAAP accounting protocols. Earnings increased 24.1% to $29.3 mil. VO5 sales were up low single digits, and Pro-Line ethnic hair care increased 20%, according to Bernick. Sales for Sally Beauty supply business were up 10%. Acquisition of Armstrong-McCall franchise in December did not impact Q1 results, but should contribute $75 mil. over the remainder of year ("The Rose Sheet" Dec. 17, 2001, In Brief)...
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