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Alberto-Culver Q1

This article was originally published in The Rose Sheet

Executive Summary

Firm has "absolutely no intent whatsoever to consider a sale" of the consumer products business in light of the company's planned spin-off of Sally Beauty, Alberto President and CEO Howard Bernick states during first quarter sales and earnings call Jan. 26. Company recently announced it will complete sale of Sally to Regis Corporation this spring, simultaneous to Bernick's retirement (1"The Rose Sheet" Jan. 16, 2006, p. 3). In Q1, consumer product sales grew 5% to $318.9 mil., while earnings before income taxes advanced 14.7% to $31.4 mil., according to the firm. Growth of the unit was driven in part by Tresemme, which had "very strong" double-digit increases in the U.S. and Europe, firm notes. Net sales during the period were up 6% to $898.3 mil., while net earnings grew 5.4% to $52.1 mil. Firm plans to spend more than $310 mil. on advertising this year, Bernick notes...

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