Douglas hints at store closures following loss-making quarter

Perfume chain Douglas increasingly feels the reluctance of European consumers. In the third quarter, revenue fell slightly, but profits were hit hard. The group now plans to invest more in e-commerce, while also taking a critical look at its store network.

Price pressure in core markets

Between April and June, Douglas posted revenue of 987.8 million euros, down 2% from a year earlier. Adjusted gross operating profit (EBITDA) fell by 19.4% to 127.5 million euros. On the bottom line, the German perfume chain even slipped into the red: the group posted a net loss of 2.6 million euros, compared with a profit of 17.3 million euros a year earlier.