Sally Beauty Holdings, Inc. Announces $700 Million Share Repurchase Program

  Sally Beauty Holdings, Inc. Announces $700 Million Share Repurchase Program

Business Wire

DENTON, Texas -- March 5, 2013

Sally Beauty Holdings, Inc. (NYSE: SBH) (the “Company”) today announced that
its Board of Directors has approved a new share repurchase program authorizing
the Company to repurchase up to $700 million of its common stock. The
announcement is the first repurchase authorized by the Company in 2013, but
the third in the last twelve months. In August 2012, the Company announced the
approval of a share repurchase program to repurchase up to $300 million of its
common stock and, in May 2012, the Company repurchased approximately $200
million of its common stock. As of today, the Company has repurchased $266.4
million of its common stock under its $300 million repurchase program
announced in August 2012. The remaining $33.6 million authorized under that
program is included in the $700 million repurchase program announced today.

“Our strong cash flow allows us to continue the repurchases of our stock while
continuing to invest in growth opportunities and other long-term initiatives,”
said Gary Winterhalter, Chairman, President and CEO. “We believe our recent
stock repurchases have returned value to our shareholders and this new share
repurchase program underscores our continued commitment to building
shareholder value.”

Sally Beauty Holdings, Inc. expects to fund the share repurchase through a
combination of cash on hand, future cash flow from operations and borrowings.
Repurchases will be made in compliance with all Securities and Exchange
Commission rules, including Rule 10b-18, and other legal requirements and may
be made in part under a Rule 10b5-1 plan, which permits stock repurchases when
the Company might otherwise be precluded from doing so.

About Sally Beauty Holdings, Inc.

Sally Beauty Holdings, Inc. (NYSE: SBH) is an international specialty retailer
and distributor of professional beauty supplies with revenues of $3.5 billion
annually. Through the Sally Beauty Supply and Beauty Systems Group businesses,
the Company sells and distributes through 4,500 stores, including
approximately 200 franchised units, throughout the United States, the United
Kingdom, Belgium, Chile, France, the Netherlands, Canada, Puerto Rico, Mexico,
Ireland, Spain and Germany. Sally Beauty Supply stores offer more than 6,000
products for hair, skin, and nails through professional lines such as Clairol,
L’Oreal, Wella and Conair, as well as an extensive selection of proprietary
merchandise. Beauty Systems Group stores, branded as CosmoProf or Armstrong
McCall stores, along with its outside sales consultants, sell up to 9,800
professionally branded products including Paul Mitchell, Wella, Sebastian,
Goldwell, Joico, and Aquage which are targeted exclusively for professional
and salon use and resale to their customers. For more information about Sally
Beauty Holdings, Inc., please visit

            Cautionary Notice Regarding Forward-Looking Statements

Statements in this news release hereto which are not purely historical facts
or which depend upon future events may be forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Words such as
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “project,”
“target,” “can,” “could,” “may,” “should,” “will,” “would,” or similar
expressions may also identify such forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking
statements as such statements speak only as of the date they were made. Any
forward-looking statements involve risks and uncertainties that could cause
actual events or results to differ materially from the events or results
described in the forward-looking statements, including, but not limited to,
risks and uncertainties related to: the highly competitive nature of, and the
increasing consolidation of, the beauty products distribution industry;
anticipating changes in consumer preferences and buying trends and managing
our product lines and inventory; potential fluctuation in our same store sales
and quarterly financial performance; our dependence upon manufacturers who may
be unwilling or unable to continue to supply products to us; the possibility
of material interruptions in the supply of beauty supply products by our
manufacturers; products sold by us being found to be defective in labeling or
content; compliance with laws and regulations or becoming subject to
additional or more stringent laws and regulations; product diversion; the
operational and financial performance of our franchise-based business; the
success of our Internet-based business; successfully identifying acquisition
candidates and successfully completing desirable acquisitions; integrating
businesses acquired in the future; opening and operating new stores
profitably; the impact of the health of the economy upon our business; the
success of our cost control plans; protecting our intellectual property
rights, specifically our trademarks; conducting business outside the United
States; disruption in our information technology systems; severe weather,
natural disasters or acts of terrorism; the preparedness of our accounting and
other management systems to meet financial reporting and other requirements
and the upgrade of our financial reporting system; being a holding company,
with no operations of our own, and depending on our subsidiaries for cash; our
substantial indebtedness; the possibility that we may incur substantial
additional debt in the future; restrictions and limitations in the agreements
and instruments governing our debt; generating the significant amount of cash
needed to service all of our debt and refinancing all or a portion of our
indebtedness or obtaining additional financing; changes in interest rates
increasing the cost of servicing our debt; the potential impact on us if the
financial institutions we deal with become impaired; and the
representativeness of our historical consolidated financial information with
respect to our future financial position, results of operations or cash flows.

Additional factors that could cause actual events or results to differ
materially from the events or results described in the forward-looking
statements can be found in our most recent Annual Report on Form 10-K for the
year ended September 30, 2012, as filed with the Securities and Exchange
Commission. Consequently, all forward-looking statements in this release are
qualified by the factors, risks and uncertainties contained therein. We assume
no obligation to publicly update or revise any forward-looking statements.


Sally Beauty Holdings, Inc.
Karen Fugate, 940-297-3877
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