Due to global economic and political uncertainties, Douglas is suffering from declining visits in shops and online. The retailer expects a recovery in the premium beauty market “in the medium-term”.
Seizing opportunities
In the second quarter of its broken financial year, Douglas saw sales fall 2 % to 939 million euros. Sales in shops were down 0.1 %, online sales decreased by 5.6 %. CEO Sander van der Laan attributed the figures to increased economic and political volatility and said he was taking measures to stabilise sales and secure profitability.
“We expect the global economic landscape and thus the premium beauty market to recover in the medium-term. And we are well prepared to seize the opportunities that will then arise”, the CEO said. He pointed to a “robust” first half of the year, in which sales grew by 2.8 %, operating profit by 11 % and net profit even by more than 70 %.
The retailer continues to invest in expansion, with 200 additional shops planned by the end of next year. Douglas also plans to refurbish 400 shops.
