The Douglas Group grew sales by 7.3 percent to 977.1 million euros, confirming preliminary numbers published July 17, 2024.
Raising its outlook for the year ahead, the company said it now expects net sales to grow around 8.5 percent and that the group is on track to deliver its mid-term earnings guidance of an expected adjusted EBITDA margin of around 18.5 percent.
Commenting on the third quarter trading, Sander van der Laan, CEO of the Douglas Group, said in a statement: “Our sustained strong performance and continued growth – even above our expectations – demonstrate the resilience of our business model. Fully focusing on premium beauty is the right course for us, and this strategy strongly resonates with our customers.”
Highlights of Douglas Group’s Q3 and nine month performance
The European omni-channel beauty retailer said store sales grew by 7.2 percent with like-for-like sales growth of 6.3 percent and ecommerce sales increased by 7.5 percent with like-for-like sales increase of 9.8 percent.
In the first nine months of the financial year, group sales increased by 8.7 percent to around 3.5 billion euros driven by both store sales, which rose by 8.2 percent with LFL growth of 7.4 percent and ecommerce which grew by 9.8 percent with LFL increase of 11.9 percent.
From April to June, the group achieved an adjusted EBITDA of 162.9 million euros, an improvement of 5.6 percent over the previous year, corresponding to an adjusted EBITDA margin of 16.7 percent. Net income for the quarter expanded to negative 71.6 million euros.
In the first nine months, the group generated an adjusted EBITDA of 657.1 million euros, up 11.5 percent, corresponding to an adjusted EBITDA margin of 18.8 percent.
Douglas plans to open 200 stores by 2026
The company’s target is to open more than 200 stores and more than 400 store refurbishments by the end of 2026.
In the first nine months of the financial year, it opened 38 new stores and refurbished 69 existing ones. 19 stores were closed in the same period, which included six franchise stores.
Douglas further said that to further enhance the group’s premium positioning across all channels and along all customer touchpoints, the company’s websites including the online shop and apps will receive a new look and feel starting in early September.