DENTON, Texas (AP) -- Sally Beauty Holdings Inc. said Thursday its profit rose in its fiscal fourth quarter from newly acquired stores and improved demand for its beauty products.

Earnings for the quarter ended Sept. 30 rose to $27 million, or 15 cents per share, from $21.5 million, or 12 cents per share, in the same period a year ago.

Sales increased to $676.2 million from $672.2 million.

Analysts polled by Thomson Reuters expected fourth-quarter profit of 15 cents per share and sales of $671.8 million.

Sales at stores open more than a year rose 2.4 percent during the quarter. Sales at stores open at least a year are considered an important retail performance indicator because they measure growth from existing locations rather than newly opened ones.

Additionally, the company acquired 43 stores through its purchase of Schoeneman Beauty Supply Inc. on Sept. 30. The company also purchased stores in Chile, Belgium, France and Puerto Rico.

Ongoing cost reduction initiatives and savings from a warehouse optimization project also helped, Sally Beauty said.

"We executed on all of our strategic objectives, including 3.7 percent growth in our store base achieved through organic store openings, acquisitions and the strengthening of our balance sheet through a $73 million reduction in long-term debt," Gary Winterhalter, president and chief executive said in a statement.

For the year, the company's earnings rose to $99.1 million, or 54 cents per share, from $77.6 million, or 42 cents per share, last year.

Revenue declined less than 1 percent to $2.64 billion from $2.65 billion.

Analysts predicted profit of 55 cents per share and revenue of $2.63 billion.

Shares of Sally Beauty fell 4 cents to close at $7.51.