Sally Beauty Holdings posts record sales in Q1

Denton, Texas Beauty supply retailer Sally Beauty Holdings said Thursday its sales in the first quarter surpassed $700 million for the first time in the company’s history.

Sally Beauty Holdings posted a profit of $26.1 million on revenue of $704.8 million. That is up from a profit of $16 million on revenue of $645.5 million.

Sally Beauty credits its surge in profit on a positive impact from the foreign currency exchange rate and higher same-store sales -- which includes all stores open for 12 months or more.

The company said going into 2010, it plans to continue growing the business through acquisitions and organic store openings.