SBH
#Well, listen, first of all, it's not the sales decline in BCC.
We decel-ed, in terms of going from 6% to 7% now 3%.
And as you go through a transition like this, and recruit new customers to your brand, I think that's a fairly moderate impact on your core customer base.
We are making changes in our marketing as well.
And we have as, an example, reduced the amount of direct mailers that we send out to those customers, and shifted some of the media to other marketing mix.
And we are obviously, still doing all kinds of promotional activity that's tied to seasonal events.
But the reality is there's many changes affecting our customer base.
Some of it is in store.
Some of its through our marketing.
Some of it's through our packaging and products because obviously as we change the packaging those customers might have been buying that same package for many years.
And now they're going to have to adjust to a new package that looks a little bit different.
But obviously creates a much more stylish look for our list customers.
So the reality is, I think it's a normal transition period.
And I don't think it was terribly severe in terms of the amount of transition that we've experienced, and our expectation is we'll win them back in the next couple of quarters.
You bet.
Yes, much less so.
Because the reality is, we're not moving any of their products or changing any other products really.
It's all going to be the same SKUs, just better presented and with more educational information, and good merchandising around it.
So I think you'll find there's ---+ that we don't expect really any disruption associated with either brushes or combs or the hair color education center.
I was in stores yesterday, saw the education center up in the stores, and it was a pretty seamless cutover.
So I don't think there will be anything there.
The reality is I think the overall market is pretty flat to slightly up, but it's meddling along.
I don't think it's bad, but I don't think it's great.
But we just needed to find our own brand in that, and our own value proposition, and recruit customers to our business.
There's plenty of opportunity, given the traffic that's in the malls that we're in, to bring new people to our stores if we get our value proposition right and communicate it clearly.
So I don't think it's fairly slow growth environment should affect our ability to drive our comps over time.
But that's what we're seeing out there is, kind of a slow meddling environment around us.
You bet.
One last question.
Yes.
Well, first of all, the amount of investment that we're making in Brazil this year, is just really to get started, so it's not a significant piece of our investment thesis for an overall perspective.
And some of the territorial targets that are out there, as history is typically indicated they are very small, and there are things that certainly don't cause any kind of headwind within our capital allocation plans or cadence that we typically have had.
So overall, kind of really to get to the central theme of your question that you asked, is in terms of returns, is that our best returns is through our organic growth, and in terms of the investment in our stores.
And then we make certainly, strategic investments with some of these territorial acquisitions.
And entering into new markets, those have a longer tail, in terms of their investment thesis.
And particularly, Brazil will have a long investment tail to it, over a number of years.
So we're just now kind of getting the planning of that established and the organizational side of that established.
So it doesn't have a great impact on the short-term thesis.
But our overall outlook and our overall use of capital, and cadence of share repurchases is still very consistent with what we've done in the last couple of years.
And we continue to look at that quarterly, with the guidance of our Board.
All right.
And with that, I'd like to thank everybody for joining us today.
We are halfway through the fiscal year, and we remain confident that we will reach our financial and strategic goals for the year.
Thank you, and I hope to see all of you soon.
