Douglas improves sales and profitability in Q3

Douglas grew adjusted sales in the third quarter by 9.7 percent to 910.4 million euros. Store adjusted sales grew by 12.1 percent with like-for-like growth of 10.7 percent and ecommerce sales growth of 5.2 percent and 8.5 percent like-for-like.

The company said in a release that digital business, which accounted for 31.9 percent of total group sales, recorded continued sales growth in the core beauty area.

The segments Southern Europe increased 13.7 percent and Central Eastern Europe by 16.9 percent.

“Our third quarter results underline once again Douglas’ resilience and strong market position, especially as we entered a phase of a slowing down inflation and a steadily improving product availability,” said Sander van der Laan.

In the third quarter, the company achieved a group adjusted EBITDA of 154.3 million euros, corresponding to an adjusted EBITDA margin of 16.9 percent, ahead of the previous year’s margin of 16.6 percent.

Third quarter net income improved by 25.3 million euros or nearly 50 percent to negative 26.1 million euros.

For the first nine months of the fiscal year, Douglas achieved adjusted sales of 3,208 million euros and a group adjusted EBITDA of 589.2 million euros, corresponding to an adjusted EBITDA margin of 18.4 percent. Net income stood at 44.9 million euros, a positive swing of more than 120 million euros compared to the previous year.

The company continued to expand its footprint in Europe with the opening of its first store in Belgium, located in the Wijnegem shopping centre near Antwerp.