Perfumery chain - Douglas generates sales of more than 4 billion euros for the first time
Germany's largest perfumery chain Douglas broke the four billion euro sales mark in the past 2022/23 financial year. The Group's adjusted net sales rose by 12.1 percent to around 4.1 billion euros in the financial year ending in September, as the company announced in Düsseldorf on Wednesday. The perfumery chain also defied the difficult consumer environment in the final quarter with growth of 9.1 percent.
Douglas made a successful start to the new financial year, the company added. According to the information provided, the important pre-Christmas business was satisfactory both online and in the stationary business.
In the past financial year, both the brick-and-mortar business and online retail recorded double-digit growth rates. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by a good 22 percent year-on-year to 593.4 million euros. After a loss of 313.8 million euros in the previous year, Douglas has now reached the profit zone: net earnings amounted to 16.7 million euros.
In order to reach the five billion euro sales mark by the 2026 financial year, Douglas intends to expand its store network in line with the strategy program presented in the spring. The company is focusing on expanding its activities in Central and Eastern Europe. 26 of the 39 new stores in the past financial year have already been opened there, including in Poland, Estonia and Romania. In total, Douglas has around 1850 stores across Europe and employs around 18,000 people.
Press release
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Source: www.stern.de
