LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Sally Beauty Holdings, Inc. (“Sally Beauty” or the “Company”) (NYSE: SBH) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On February 6, 2020, Sally Beauty announced its first quarter 2020 financial results in a press release. Therein, the Company reported net sales of $980.2 million, a 0.9% decline over the prior year period. According to Sally Beauty’s Chief Executive Officer (“CEO”) Chris Brickman, the shortfall was due, in part, to “implementation-related technology disruptions” which “led to product pricing issues, the misapplication and unintended increase of promotional discounts, and a resulting disruption of [the Company’s] planned marketing activities during the quarter.”
On this news, the Company’s share price fell $2.48, or over 15%, to close at $13.50 per share on February 7, 2020, on unusually heavy trading volume.
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If you purchased Sally Beauty securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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