Many Sally Beauty Shoppers Will Need To Find A New Favorite Store
Sally Beauty is known for selling top-of-the-line, salon-quality products at an affordable price point, making it easy for beauty lovers to get their desired look from home without breaking their budget, per Yahoo!. According to Sally Beauty Holdings, the beauty store first opened in New Orleans in 1964. By 1987, the company celebrated 500 stores and $130 million in sales, becoming a go-to stop for beauty lovers across the country and across the pond in Europe. And Sally Beauty only continued to grow from there. A few short years later, another 500 stores opened, and in the 2000's they expanded further, opening stores in Peru, Colombia, and a three-story flagship store on Oxford Street in London.
Unfortunately, all that success eventually started to slow down. While the company currently has over 5,000 stores, that number will soon be decreasing. A new announcement by the company may leave many beauty lovers scrambling to find their favorite products, just in time for the holiday season.
Sally Beauty will be closing 350 stores across the country
According to Yahoo!, while Sally Beauty was able to survive the pandemic and continue to find success each year since it first opened in 1964, it recently took a turn. As of May 2022, the company officially began seeing fewer shoppers in their stores, meaning fewer sales. The reason for this sudden decline is inflation. In fact, Sally Beauty may be more prone to the negative aspects of inflation due to its business model that tailors to lower-income shoppers. To help their bottom line, Sally Beauty announced that they will be shutting down 350 of their stores. According to Fall River Reporter, they are referring to this move as their "store optimization plan," and will be closing the majority of these stores right in the midst of the holiday season. Most of the closings will be stores located in the United States, in addition to two distribution centers in Pennsylvania and Oregon.
According to Best Life, as of this writing, Sally Beauty has 3,439 stores around the world, so while this is only a dent in their business model, it will directly affect those whose stores are in the line of fire. Currently, the company has not released which stores will be shutting down, but shoppers will need to start looking for another option this December.