2023-08-24 13:18:30
Things are going well for the cosmetics chain. The branch business as well as the e-commerce and the digital business are growing.
Düsseldorf.
Germany’s largest perfumery chain Douglas did good business despite the slump in consumption between April and June. “Douglas continues to grow in a difficult macroeconomic environment and again showed itself to be resilient and profitable in the third quarter,” said CEO Sander van der Laan on Thursday when presenting the figures for the third quarter of the 2022/23 financial year.
According to the company, adjusted net consolidated sales increased by 9.7 percent to a good 910 million euros between April and June. The main growth driver was the branch business with an increase of 12.1 percent. However, sales in e-commerce also increased by 5.2 percent. The digital business now accounts for 31.9 percent of group sales.
The bottom line is that the company, which has been carrying billions in debt since it was taken over by financial investors, reported a consolidated loss of 26.1 million euros for the third quarter. Compared to the same quarter of the previous year, the loss has thus halved. For the first nine months of the year, however, Douglas was able to present a net profit of 44.9 million euros, an improvement of more than 120 million euros compared to the same period last year.
By 2026, following the “Let it Bloom” strategy program presented in the spring, Douglas wants to increase its sales across Europe by more than a third to 5 billion euros. (dpa)
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