The Douglas perfumery chain ended the second quarter deep in the red.
The net loss for the three months to the end of March is likely to be in the high double-digit to low triple-digit million range, the company announced on Thursday in Düsseldorf. According to analysts, Douglas has so far only recorded a loss of nine million euros. This is due to write-downs on French business activities, the online shop Parfumdreams and the luxury subsidiary Niche Beauty in the mid to high double-digit million euro range. There would also be further value adjustments in the low double-digit million euro amount.
The share came under heavy pressure at times after the trading session and temporarily lost more than three percent on the Tradegate trading platform. Recently, however, the paper was able to curb its losses somewhat and is still trading 1.38 percent lower at 10.00 euros.
Consumers were particularly cautious in Europe. In the second quarter, growth rates in the mature European markets slowed, said Douglas. At the same time, consumers placed a greater focus on price and promotions. According to preliminary figures, sales rose by 1.1 percent to 949.7 million euros. In contrast, adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) fell by 5.1 percent to 116.1 million euros, which corresponds to a margin of 12.2 percent, after 13 percent in the same period of the previous year.
Douglas was therefore more pessimistic for the 2025/26 financial year. Sales should be at the lower end of the range of 4.65 to 4.8 billion euros. The company now sees the adjusted Ebitda margin at around 16.0 percent. Management had previously forecast around 16.5 percent.
“The market in which we are active has fundamentally changed and is now stabilizing at a new level,” said CEO Sander van der Laan, according to the statement. At the same time, the consumer climate continues to suffer from geopolitical and economic uncertainty. “In this environment, our focus in the short and medium term is clearly on our omnichannel model, on differentiation, and on profitable growth.”
Douglas therefore wants to “sharpen” its strategy and accelerate the implementation of the associated initiatives. “These measures are not short-term reactions to the environment, but rather conscious investments in our business model, with which we will grow sustainably and profitably,” said van der Laan. The company also pays attention to strict cost discipline.
Douglas wants to present the detailed figures for the second quarter on May 12th.
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DÜSSELDORF (dpa-AFX)
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