German beauty chain Douglas, which has big European growth ambitions, has managed to increase its sales by almost a fifth last quarter. Profits also rose sharply.
On track
Douglas wants to triple its sales over the next three years, from 1.4 to 5 billion euros. CEO Sander van der Laan wants to achieve this by expanding into additional countries – including Belgium – and by focusing on an omnichannel strategy. Judging by the latest quarterly figures, the retailer is on track to meet that ambitious target.
Sales in its stores grew by 19.5 % to 562.5 million euros, while online sales grew by 20 % to 299.4 million euros. The sharpest sales growth was that through the Douglas app (+ 27 %). As a result, group sales increased 19.3 % to 858.5 million euros from January to March 2023, as comparable sales grew 19.9 %. Operating profit (adjusted ebitda) rose 32.9 % to 126.9 million euros in the same period.
