NOVEMBER 11, 2022 — CLOSING 350 STORES AND DISTRIBUTION CENTERS IN OREGON AND PENNSYLVANIA
The company announced plans to close 350 stores and distribution centers in Oregon and Pennsylvania.
According to a company filing, “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. Based on positive sales recapture rates and improved profitability within those markets, the Company is accelerating its store optimization plan, including the closure of approximately 350 stores, with the majority closing in December 2022. Most of the store closings will be Sally Beauty locations in the U.S. In addition, the Company will also be optimizing its supply chain by closing two small distribution centers in Oregon and Pennsylvania and transferring the volumes to larger distribution centers, effective in December 2022.”
Additionally, there will be 57 distribution center layoffs in Pottsville, Pennsylvania.
APRIL 9, 2018 — Original post…
Sally Beauty Holdings, Inc., the international specialty retailer, and distributor of professional beauty supplies based in Denton, Texas, has announced an as yet unspecified number of layoffs to facilitate its restructuring plan. Based on estimated savings of $15 million annually, the number of layoffs is estimated to be between 100 to 300 employees.
According to Sally’s President and CEO Chris Brickman,...
“This program includes cost savings initiatives focused on organizational efficiencies, sourcing of products and brands for resale, indirect procurement, store operating expenses, and inventory management. As a first step, the Company is implementing headcount reductions, primarily at its corporate headquarters in Denton, Texas, which represent an expansion of the restructuring plan announced this past November ('2018 Restructuring Plan') and reflects the Company’s continued focus on streamlining operations and improving efficiencies in order to drive long-term profitable growth. "
“We have dedicated a substantial amount of work over the last several months to the development of initiatives that we expect will generate meaningful financial benefits, within both product margin and G&A expenses. We plan to utilize these benefits to maintain our profitability and fund the key investments required to transform the business and intensify our focus on our most differentiated categories - hair color and hair care.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?