This was a LinkedIn message I received from a former team member.
I thought this story might put a smile on your face. I was meeting with a client last week. After our meeting was over, we were reminiscing about Wichita in the 80’s. I mentioned I worked at CPDS (Carol Phillips DermaSystems) & my client shared this story with me… This woman’s aunt paid for her to get makeup lessons at CPDS. The aunt insisted her niece learn how to apply her make up correctly. She was preteen at the time. I laughed and told her I was most likely down the hall at the time doing a mani/pedi. To think we were that close & connected 20+ years later! She remembers it fondly as one of the happiest times in her life while her aunt was still living. She still has a small eyeshadow pot with your logo on it she refuses to throw out. She also still has some of the makeup brushes her aunt purchased for her; a testimony to the quality of your brushes.
I also was talking with our accountant who is a dear friend and now fellow church member. I told her this story & she laughed. Lynda & her friend Shiela had a bookkeeping biz and she would stop by the salon to drop off documents on occasion or send her mother by. Lynda’s mom has since passed away but was a dear friend too. Again, I told her I was probably down the hall working on a client or even took the docs from her. Until last week, we had never put the story together. Small world!
Have a fantastic day!
Michelle, THANK YOU so much for sharing that story with me. I am crying and it’s making it really hard to type. I am humbled that we could touch her life like that and that she remembers all those years ago. It just goes to show you the power of our industry and the long-lasting effect we have.
I have just launched a beauty school training program that teaches esti ( and now cosmo) sales and marketing. They have no idea sitting in school the effect they will have on their client’s life.
I think I still have a book Lynda gave me on how to read financial statements. think we were both NAWBO members in Wichita.
Thank for taking the time to share.
OAKLAND, Calif., July 30, 2018 /PRNewswire/ — The Labor Commissioner’s Office issued more than $1.2 million in wage theft citations to a Temecula nail salon for misclassifying and failing to properly pay 36 workers. An investigation found that the workers at Young’s Nail Spa were not paid an hourly rate and not paid overtime despite working up to 50 hours a week.
“Using misclassification as a business model not only denies workers of their rightful pay, but also gives the employer an unfair advantage over law-abiding businesses,” said Labor Commissioner Julie A. Su. “California law is clear that if employers pay less than the minimum wage, when they are caught they will be responsible for paying not just the wages owed, but an equivalent amount in liquidated damages plus interest.”
The Labor Commissioner’s Office launched its investigation when the Labor and Workforce Development Agency referred the case following notification of a complaint filed through the Private Attorneys General Act. Investigators audited the business records over a 40-month period and determined that 36 workers employed at the salon were paid for each salon service performed instead of the total hours worked. Shifts averaged 9.5 to 10 hours per day but workers were not properly paid for overtime, nor provided proper meal and rest breaks. Young’s Nail Spa also failed to carry valid workers’ compensation insurance coverage during the last three years.
The $1,242,227 citation amount includes $670,040 payable to workers and $572,187 in civil penalties. Of the total due to workers, $126,702 is for minimum wage violations plus $17,375 in interest, $144,076 for liquidated damages, $118,825 for failure to pay overtime, $92,492 for not providing final paychecks as required by law, $87,155 for improperly paid rest periods, $65,312 for not providing proper itemized wage statements, and $18,103 for meal period violations.
The civil penalties include $207,887 for failure to maintain valid workers’ compensation insurance, $160,000 for misclassifying workers as independent contractors, $104,000 for not providing proper wage statements and $100,300 for penalties associated with the wage violations.
Enforcement investigations typically include a payroll audit of the previous three years to determine minimum wage, overtime and other labor law violations, and any payments owed and penalties due are calculated. Civil penalties collected are transferred to the State’s General Fund as required by law.
Required workplace postings on wages, hours and working conditions must be posted in an area frequented by employees where it may be easily read during the workday. Nail salons have a specific posting required for all Barbering and Cosmetology Licensees.
Worker misclassification is the practice of knowingly misclassifying an employee as an independent contractor. It deprives employees of minimum wage and overtime protections, as well as workers’ compensation coverage if injured on the job, and creates an unfair playing field for responsible employers who honor their lawful obligations to their employees. The Labor Commissioner’s Office enforces laws prohibiting the willful misclassification of workers.
When workers are paid less than minimum wage, they are entitled to liquidated damages that equal the amount of underpaid wages plus interest. If a worker quits, final wages are due within 72 hours of the notice. Waiting time penalties are imposed when the employer intentionally fails to pay all wages due to the employee at the time of separation. This penalty is calculated by taking the employee’s daily rate of pay and multiplying it by the number of days the employee was not paid, up to a maximum of 30 days.
The Division of Labor Standards Enforcement, or the Labor Commissioner’s Office, is the division within the Department of Industrial Relations (DIR) with wide-ranging enforcement responsibilities including adjudicating wage claims, inspecting workplaces for wage and hour violations, investigating retaliation complaints and educating the public on labor laws.
In 2014, Labor Commissioner Su launched the Wage Theft is a Crime multilingual public awareness campaign. The campaign defines wage theft and informs workers of their rights and the resources available to them to recover unpaid wages or report other labor law violations.
Employees with work-related questions or complaints may contact DIR’s Call Center in English or Spanish at 844-LABOR-DIR (844-522-6734).
Members of the press may contact Erika Monterroza or Paola Laverde (510) 286-1161, and are encouraged to subscribe to get email alerts on DIR’s press releases or other departmental updates.
The California Department of Industrial Relations, established in 1927, protects and improves the health, safety, and economic well-being of over 18 million wage earners, and helps their employers comply with state labor laws. DIR is housed within the Labor & Workforce Development Agency. For general inquiries, contact DIR’s Call Center at 844-LABOR-DIR (844-522-6734) for help in locating the appropriate division or program in our department.
SOURCE California Department of Industrial Relations; California Labor Commissioner’s Office
Retail sales can be a big revenue generator for a spa, but “selling” does not come easy to all spa professionals. Carol Phillips, keynote speaker on day three of the Face & Body Spa Conference and Expo Northern California, will teach attendees how to move past “I’m an artist, I don’t sell” to building the confidence to boost sales.
“We are in the business of beauty. While it is about doing a great facial, soothing massage or speedy waxing, it is still a business that offers these services and products,” said Phillips. “Yet many therapists and owners forget that you have to sell something and that it’s OK to make a profit.”
Phillips, who is known as “The Diva of Retail,” says businesses can underperform by 20% on average. During her keynote speech, Phillips will discuss several tips that everyone can put to work right away to increase sales.
“Face & Body always draws beauty professional who love to learn! One thing that I have experienced over the years as a keynote speaker is that the spa peeps that attend Face & Body are serious about their craft and their business,” Phillips said. “For the first time, Face & Body is offering attendees a keynote on Monday morning and I am thrilled to ‘take care of business’ with everyone there.”
The CEO and founder of BeauteeSmarts, Phillips offers full-service consulting, marketing, branding, service training and sales programs. She has trained and consulted for tops spas such as Miraval, Hilton, Waldorf Astoria, Encore, Wynn, Canyon Ranch Resorts, Sea Island and Elizabeth Arden Red Door Spas. Her unique perspective helps drive sales at every link in the beauty business—from product vendors, distributors, sales representatives, chains, five-star resorts, day spas, medical spas, salons, solopreneurs and schools.
– See more at: http://www.skininc.com/spabusiness/leaders/people/Retail-Diva-will-help-you-drive-sales-at-Face–Body-Northern-California-420402103.html#sthash.MRc6XMnH.dpuf
Original Post by my buddy Winn Claybaugh on his FaceBook Page
The Good Fortune documentary tells the inspirational life story of Paul Mitchell CEO, John Paul DeJoria. Learn how he has used business to make the world a better place while becoming one of America’s most celebrated entrepreneurs. The film is coming to select theaters this month. We can’t wait to experience it and encourage you to gather your friends and family to see it, too! #PMTS #GoodFortuneMovie
Watch the trailer here: https://www.youtube.com/watch?v=6oxT2rJXBaM
Find out if Good Fortune is coming to a city near you: http://bit.ly/2spE7zS
Carol Note: Go see this movie. I don’t care what brand of beauty products you have in your salon, we all need a mega dose of entrepreneurial spirit. XOXO Carol
As consumers, we like to think that we’re making a conscious decision when we buy from a certain brand, especially when it comes to something as personal as beauty products.
But it turns out that 182 beauty companies fall under the massive umbrellas of seven huge manufacturers.
Inspired by a similar graphic that shows all of the food brands owned by major corporations, INSIDER created our own infographic that illustrates all the major beauty brands and the parent companies that they fall under.
These seven mega-companies — Estée Lauder Companies, L’Oréal, Unilever, Procter and Gamble, Shiseido, Johnson and Johnson, and Coty — employ thousands of people around the world and make billions of dollars in revenue every year. They also are responsible for controlling advertising and the way we all think about beauty every day.
Each of these seven conglomerates has more than just the sub-brands we listed here, but for our purposes, INSIDER chose to stick with brands that are responsible for skin care (for both the body and face), hair care, perfume, and makeup. We did not include brands that only made products such as deodorant, toothpaste, suntan lotion, or baby lotion, but did count the sub-brands of relevant brands (i.e. Pantene and Pantene Pro-V).
What remains is a compelling look at who controls the beauty products we’re buying, from fan-favorites like CoverGirl to expensive and aspirational skincare lines like La Mer.
And it’s mind-boggling to see how interconnected consumer brands truly are.
Estée Lauder Companies was responsible for 24 of the beauty brands on this list. Some of their holdings include the makeup and fragrances by fashion brands such as Donna Karan, Michael Kors, Tom Ford, Tommy Hilfiger, and Tory Burch, each of which have their own cosmetics and/or toiletries lines.
They also have quite a few well-known beauty brands such as Aveda, Bobbi Brown, Clinique, La Mer, and MAC Cosmetics.
Estée Lauder as a whole made an estimated $11.3 billion in beauty sales in 2016, according to Beauty Packaging.
L’Oréal had the most brands on this list with a total of 39 beauty brands, including major staples like Lancôme, Maybelline, Urban Decay, Garner, Essie, and The Body Shop.
They also have very expensive skincare and haircare brands, including Pureology, La Roche-Posay, and SkinCeuticals.
In 2016, it was estimated they made $27.6 billion in beauty annual sales, according to Beauty Packaging.
Unilever has 38 total beauty sub-brands, and many of those are staples in drugstores in the US, including Nexxus, Ponds, TIGI, Dove, Vaseline, and Lever 2000.
Unilever also has quite a few brands popular outside the US, including Fair & Lovely, a “fairness cream” that’s marketed in India as a skin-lightening lotion for women. It’s worth noting that it has received backlash for promoting one shade of skin as better than another.
Unilever made an estimated $58.2 billion in corporate sales last year, according to Beauty Packaging. $22.3 was from beauty sales.
Procter & Gamble has 9 total beauty brands, with an emphasis on big name brands, including Head & Shoulders, Herbal Essences, Olay, and Gillette.
The company made an estimated $76 billion from corporate sales in 2016, according to Beauty Packaging, $18 billion of which was for beauty sales. The corporation recently sold many of its beauty brands to Coty in 2016.
Speaking of Coty, it has come out as a new leader in the beauty industry with 33 total brands. After acquiring many brands from Procter & Gamble, Coty now owns numerous big name products, including OPI, Rimmel, Covergirl, and is behind celebrity toiletries like Katy Perry, David Beckham, and Beyoncé, among others.
In 2016, Coty made an estimated $4.3 billion in beauty sales, according got Beauty Packaging. After their 2016 acquisition, we expect this number to rise dramatically.
Shiseido — itself a well-known skincare brand — has about 30 other beauty brands underneath it. Some of those are also makeup brands, including bareMinerals, Nars, and Laura Mercier.
The vast majority are brands that might not be recognized in the US, including Japanese brands such as Majolica Majorca, Ettusais, Maquillage, and Aqua Label, which also claims to “whiten” skin.
The Japanese corporation made an estimated $6.3 billion in beauty sales in 2016, according to Beauty Packaging.
And finally, the last major brand we included on this list is on the smaller side with nine beauty brands, but what it lacks in quantity it makes up for in name recognition.
Johnson and Johnson is a bigger umbrella company that includes nine beauty brands, including Aveeno, Neutrogena, Clean and Clear, and RoC, in addition to a few others.
The company also made quite a bit of money in skincare — $7.1 billion in 2016 to be exact, according to Beauty Packaging.
Profund Advisors LLC lowered its position in shares of Ulta Beauty Inc (NASDAQ:ULTA) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,051 shares of the specialty retailer’s stock after selling 248 shares during the period. Profund Advisors LLC’s holdings in Ulta Beauty were worth $1,441,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in Ulta Beauty by 83.6% in the third quarter. Jennison Associates LLC now owns 2,029,500 shares of the specialty retailer’s stock worth $482,980,000 after buying an additional 924,308 shares during the last quarter. Norges Bank acquired a new stake in Ulta Beauty during the fourth quarter worth $146,350,000. Scopus Asset Management L.P. acquired a new stake in Ulta Beauty during the third quarter worth $64,256,000. Putnam Investments LLC boosted its stake in Ulta Beauty by 13,876.6% in the fourth quarter. Putnam Investments LLC now owns 193,156 shares of the specialty retailer’s stock worth $49,243,000 after buying an additional 191,774 shares during the last quarter. Finally, Alkeon Capital Management LLC boosted its stake in Ulta Beauty by 80.8% in the fourth quarter. Alkeon Capital Management LLC now owns 361,625 shares of the specialty retailer’s stock worth $92,193,000 after buying an additional 161,625 shares during the last quarter. 86.21% of the stock is owned by institutional investors and hedge funds.
Shares of Ulta Beauty Inc (NASDAQ:ULTA) opened at 294.08 on Friday. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of 45.10 and a beta of 0.65. The firm has a 50-day moving average of $287.40 and a 200 day moving average of $270.26. Ulta Beauty Inc has a 12-month low of $205.95 and a 12-month high of $301.40.
Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, March 9th. The specialty retailer reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.11. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Ulta Beauty had a net margin of 8.31% and a return on equity of 26.87%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 earnings per share. On average, equities research analysts expect that Ulta Beauty Inc will post $8.09 earnings per share for the current year.
A number of research firms recently weighed in on ULTA. Robert W. Baird set a $315.00 target price on shares of Ulta Beauty and gave the company a “buy” rating in a research note on Saturday, March 11th. Royal Bank of Canada set a $285.00 price objective on shares of Ulta Beauty and gave the stock a “sector perform” rating in a research note on Saturday, March 11th. Zacks Investment Research cut shares of Ulta Beauty from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Group LLC set a $266.00 price objective on shares of Ulta Beauty and gave the stock a “hold” rating in a research note on Thursday, April 27th. Finally, Instinet reaffirmed a “buy” rating and set a $297.00 price objective (up from $294.00) on shares of Ulta Beauty in a research note on Saturday, March 11th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Ulta Beauty has an average rating of “Buy” and an average target price of $303.32.
In other news, CEO Mary Dillon sold 33,955 shares of the business’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $286.05, for a total transaction of $9,712,827.75. Following the sale, the chief executive officer now owns 72,622 shares in the company, valued at approximately $20,773,523.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Scott M. Settersten sold 11,519 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $282.80, for a total transaction of $3,257,573.20. Following the sale, the chief financial officer now owns 15,222 shares in the company, valued at approximately $4,304,781.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,534 shares of company stock worth $42,979,662. 6.90% of the stock is currently owned by company insiders.
Ulta Beauty Company Profile
Ulta Beauty, Inc is a holding company for the Ulta Beauty group of companies. The Company is a beauty retailer. The Company offers cosmetics, fragrance, skin, hair care products and salon services. The Company offers approximately 20,000 products from over 500 beauty brands across all categories, including the Company’s own private label.