Douglas posts a significant loss in the second quarter

In the second quarter, net loss increased tenfold at Douglas. Nevertheless, the German beauty retailer defends this as “well-considered decisions in a changing environment”.

Heavy write-downs

On the bottom line, Douglas posted a loss of 124.6 million euros, due to write-downs of 113.5 million euros on goodwill and other assets, according to Reuters. The write-downs related to the French subsidiary Nocibé and the online store Parfumdreams. Excluding these one-time write-downs, the net loss would have amounted to just 10 million euros, a slight improvement compared to last year’s loss of 12.2 million euros.