STOCK up on your favorite beauty and haircare products as Sally Beauty Supply has announced hundreds of store closures across the country this month.
On November 10, the retailer announced it would be closing approximately 350 stores nationwide.
The majority are expected to close in December.
The closures makeup approximately 10% of all Sally Beauty locations in the US, the total of which was 3,439 at the end of the fourth quarter of the 2022 fiscal year (FY).
In its announcement, Sally Beauty attributed these closures to the company’s “store optimization plan.”
“Over the last several quarters, the Company has been piloting store closures in various markets with the goal of maximizing the value of its large store portfolio and providing a seamless omni-channel experience to its customers,” the company said in a press release.
Additionally, to optimize their supply chain, Sally Beauty is closing two small distribution centers in Oregon and Pennsylvania.
The volumes of product will be transferred to larger centers effective in December.
As Sally Beauty saw a 2.8% decrease in net sales compared to last year, the company is anticipating saving around $50 million in expenses with their optimization plan, with approximately $10 million in adjusted operations earnings for FY 2023.
Amid the closures, shoppers have already begun to express their sadness about losing the staple hair care product store.
“Sad that the Sally Beauty Supply closest to me is closing but very excited I was able to get two huge bottles of my shampoo and conditioner (which are $57-$60 each) for $32 total,” one Twitter user posted.
“People are missing out,” another wrote.
“Sally Beauty Supply is a *jam* — especially the Generic Value Products line (even though I’m mad that they got rid of the amazing Glamglow dupe I used to buy).”