April 4, 2018 / 9:41 PM / 8 months ago

BRIEF-Sally Beauty Holdings Announces Cost Reduction Plan To Fund Long Term Growth Strategy

April 5 (Reuters) - Sally Beauty Holdings Inc:

* SALLY BEAUTY HOLDINGS ANNOUNCES COST REDUCTION PLAN TO FUND LONG-TERM GROWTH STRATEGY

* NEW ORGANIZATIONAL EFFICIENCY ACTIONS ARE EXPECTED TO GENERATE ANNUALIZED BENEFITS IN RANGE OF $14 MILLION TO $15 MILLION

* PROGRAM INCLUDES COST SAVINGS INITIATIVES FOCUSED ON ORGANIZATIONAL EFFICIENCIES, SOURCING OF PRODUCT AND BRANDS FOR RESALE

* IS IMPLEMENTING HEADCOUNT REDUCTIONS, PRIMARILY AT ITS CORPORATE HEADQUARTERS IN DENTON, TEXAS

* PROGRAM ALSO INCLUDES COST SAVINGS INITIATIVES FOCUSED ON ORGANIZATIONAL EFFICIENCIES, SOURCING OF PRODUCT AND BRANDS FOR RESALE INDIRECT PROCUREMENT, STORE OPERATING EXPENSES, AND INVENTORY MANAGEMENT

* CHARGES TO BE INCURRED IN CONNECTION WITH THE PLAN IN FISCAL YEAR 2018 ARE EXPECTED TO BE IN RANGE OF $15 MILLION TO $16 MILLION

* TOTAL RESTRUCTURING CHARGES RELATED TO EXPANDED 2018 RESTRUCTURING PLAN ARE NOW EXPECTED IN RANGE OF $28 MILLION TO $30 MILLION

* MAJORITY OF TOTAL RESTRUCTURING CHARGES EXPECTED TO BE RECORDED IN CURRENT FISCAL YEAR, INCLUDING ABOUT $6 MILLION THAT WAS RECORDED IN Q1 Source text for Eikon: Further company coverage:

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