MACOMB — The Macomb Sally Beauty Supply store will be closing permanently on Wednesday, June 15.
While the manager contacted said she was unable to give a statement on the closure, an anonymous source said that the store is packing up all their inventory and sending it to the Quincy store. There will not be any sales or inventory liquidation prior to closing.
According to a May 5 second quarter fiscal report that ended in March 31, Dennis Paulonis, president and chief executive officer of Sally Beauty Holdings (NYSE:SBH), said they had a strong start to the year, and while inflation had impacted net sales, they delivered a healthy gross margin above 51% and adjusted earnings per share of 47 cents.
Sally Beauty announced in August 2018 that it would make a restructuring plan to cut costs and invest in improvements. At that time, the plan was to close as many as 100 stores.
The company was operating 142 fewer stores at the end of the second quarter, compared to the previous year.
This article originally appeared on The McDonough County Voice: Sally Beauty Supply in Macomb is closing next week