Alberto-Culver CEO Bernick To Retire Following Sally Spin-Off
This article was originally published in The Rose Sheet
Executive Summary
Alberto-Culver President and CEO Howard Bernick will retire after nearly 30 years at the company following its planned spin-off of the Sally Beauty business this spring, the firm announced Jan. 10
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Alberto-Culver, Regis Pull The Plug On Planned Merger
Regis Corporation is terminating its agreement to merge with Alberto-Culver's Sally Beauty and BSG divisions following an announcement Alberto would withdraw its recommendation for shareholder approval
Alberto-Culver, Regis Pull The Plug On Planned Merger
Regis Corporation is terminating its agreement to merge with Alberto-Culver's Sally Beauty and BSG divisions following an announcement Alberto would withdraw its recommendation for shareholder approval
Alberto results
Alberto-Culver "anticipates that it will announce record second quarter and year-to-date sales and earnings results" on April 27, firm states in a March 22 press release. "Based upon results to date for the quarter, we expect our consumer products group to post good sales and earnings growth led by the retail launch of Nexxus" hair care this month, company adds. "Also, results to date show continued consistent growth at our Sally Beauty Supply stores and indications that Beauty Systems Group (BSG) has substantially overcome its fiscal year 2005 challenges at this time, and is on track to have a much improved 2006 profit performance." Alberto announced it would spin off Sally Beauty, which will merge with Regis Corporation in a $2.6 bil. deal, in January (1"The Rose Sheet" Jan. 16, 2006, p. 3). Alberto notes it is "reviewing" Regis' revised outlook for Q3, Q4 and FY 2006 and "may comment further, as appropriate." Regis' earnings are likely to be impacted by lower than expected sales and product margins, company says in March 21 release...