Sally Beauty’s sales dipped to $95 million in the month of April, but with some stores open, it is expected to have reached $262 million in May.
The beauty retailer released preliminary results on Tuesday, saying it had ample liquidity and more than $650 million in cash on hand, and was gradually opening more and more stores.
Sally Beauty Supply started May with 37 percent of stores open, but ended May with 84 percent of stores open. Beauty Systems Group began May with 31 percent of stores open, and ended with 82 percent open. Stores in continental Europe are now open, and stores in the U.K. and Ireland are expected to reopen by June 15. Stores in Latin America are expected to open within the next 45 days, the company said.
While stores were closed, Sally saw upticks in e-commerce sales — online revenues were up 52 percent in March, 353 percent in April and 317 percent in May, the company said.
Furloughed employees in the field and corporate offices in the U.S. and Canada will be brought back June 8.
Full quarterly results will be released in July.
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