Sally Beauty Holdings, Inc. (SBH) CEO Chris Brickman on Q4 2020 Results – Earnings Call Transcript

Sally Beauty Holdings, Inc. (NYSE:SBH) Q4 2020 Earnings Conference Call November 12, 2020 8:30 AM ET

Company Participants

Jeff Harkins – Vice President, Investor Relations

Chris Brickman – President and Chief Executive Officer

Aaron Alt – President, Sally Beauty Supply and Chief Financial Officer

Conference Call Participants

Steph Wissink – Jefferies

Oliver Chen – Cowen

Rupesh Parikh – Oppenheimer

Mark Altschwager – Baird

Simeon Gutman – Morgan Stanley

Jonathan Keypour – Bank of America

William Reuter – Bank of America

Carla Casella – J.P. Morgan

Operator

Ladies and gentlemen, thank you for standing by and welcome to the Sally Beauty Holdings Fourth Quarter Conference Call. At this time, all lines are in a listen-only mode. [Operator instructions] And as a reminder, today’s conference call is being recorded. I would now like to turn the conference over to Mr. Jeff Harkins. Please go ahead.

Jeff Harkins

Thank you. Good morning everyone, and welcome to the Sally Beauty Holdings fourth quarter earnings conference call. Before we begin, I would like to remind everyone that we have made a presentation available for today’s call that can be viewed from the link provided on our earnings press release this morning or on our investor site at sallybeautyholdings.com/investorrelations. I would also like to remind you that certain comments, including matters such as forecasted financial information, contracts or business and trend information made during this call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended.

Many of these forward-looking statements can be identified by the use of words such as believe, project, expect, can, may, estimate, should, plan, target, intend, could, will, would, anticipate, potential, confident, optimistic and similar words or phrases. These statements are subject to a number of factors that could cause actual results to differ materially from expectations. Those factors are described in Sally Beauty Holdings’ filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K.

The company does not undertake any obligation to publicly update or revise its forward-looking statements. The company has provided a detailed explanation and reconciliations of its adjusting items and non-GAAP financial measures in its earnings press release and on its website.

With me on the call today are Chris Brickman, President and Chief Executive Officer; Aaron Alt, President of Sally Beauty Supply and Chief Financial Officer; and Marlo Cormier, Senior Vice President of Finance and Chief Accounting Officer.

Chris will start by offering some thoughts on our very respectable fourth quarter. He will also touch on our thoughts about the current economic environment and our outlook on fiscal year 2021, and finish with our focus, our key focus and investments in fiscal year 2021 as we move towards the completion of our transformation plan. Aaron will then discuss our fourth quarter and full year financial results, touch on our cash liquidity, and also provide some perspective on fiscal year 2021.

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Jim Brickman Gives the Gift of a Soothe Christmas

‘Soothe Christmas Vol. 6’ Releases Oct. 16 Ahead of Virtual Holiday Concerts

Acclaimed pianist and songwriter Jim Brickman is well-known for his signature brand of music that calms, uplifts, and inspires. In recent months, the Grammy-nominated musician has offered a lineup of “Soothe” content — from a playlist and podcast to livestreams — that have brought fans together to relax and recharge during these challenging times. On October 16, Brickman introduces Soothe Christmas Vol. 6, an album designed to offer tranquility along with holiday cheer.

With Soothe Christmas Vol. 6, Brickman sets the scene for a relaxing holiday with family and close friends. Offering the perfect soundtrack for a peaceful season, he explores time-honored favorites imbued with his distinctive calm, from “Oh Christmas Tree” and “Mary Did You Know” to “I’ll Be Home For Christmas.”

Whether listeners are having a quiet holiday evening in front of the fire, a virtual gathering with friends, or a Christmas dinner with family, Soothe Christmas Vol. 6 sets the scene for a time of warmth and joy. The gentle sway of “Winter Waltz” brings to mind serene traverses through silent snowfall, while “Angels Have We Heard On High” offers a note of joy and optimism during a season of reflection on the months past and the year to come.

In addition to the new record, Brickman will be carrying on his annual tradition of Christmas shows that have delighted the more than 20 million people who have attended his live concerts over the past 25 years. With Jim Brickman’s Comfort & Joy at Home Tour, he will partner with local venues, with a portion of the proceeds supporting that venue. Fans around the country have the opportunity to support their local theaters as they sing, clap, and laugh along with Brickman’s time-honored style of Christmas joy in an interactive concert experience right in their homes.

Tickets for the Comfort & Joy at Home Tour are sold exclusively at https://www.jimbrickman.com/tour/.

11/29 Lincoln, NE 3pm CT Lied Center for the Performing Arts
11/29 Scranton, PA 4pm ET Scranton Cultural Center
11/29 Oklahoma City, OK 3pm CT For the Arts
11/29 Roanoke, VA 7pm ET Blue Ridge PBS
11/29 Omaha, NE 6pm CT For the Arts
11/29 Honolulu, HI 4pm HST KSSK Radio
12/2 Baton Rouge, LA 7pm CT Manship Theatre
12/2 Wausau, WI 7pm CT The Grand Theatre
12/2 Des Moines, IA 7pm CT For the Arts
12/3 Sarasota, FL 7pm ET Van Wezel Performing Arts Hall
12/3 Lubbock, TX 9pm CT Broadway in Lubbock
12/3 Colorado Springs, CO 8pm MT Broadway in Colorado Springs
12/4 Naperville, IL 7pm CT Wentz Concert Hall
12/4 Spokane, WA 7:30pm PT First Interstate Center for the Arts
12/4 Denver, CO 8:30pm For the Arts
12/5 South Bend, IN 4pm ET Broadway in South Bend
12/5 Toledo, OH 4pm ET Broadway in Toledo
12/5 Peoria, IL 3pm ET Broadway in Peoria
12/5 Cleveland, OH 8pm ET Playhouse Square
12/6 Frederick, MD 4pm ET Weinberg Center for the Arts
12/6 Milwaukee,

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