BERLIN — Due to growth in its domestic market and strong online revenues, Douglas Group posted third-quarter net profits of 3.3 million euros, or $4.7 million, against a net loss of 2.4 million euros, or $3.1 million, in the same prior-year period.
The Hagen, Germany-based firm’s sales rose 2.9 percent to 742.6 million euros, or $1.07 billion, in the quarter ended June 30. On a like-for-like basis, revenues increased 3.8 percent.
In Germany, the Douglas Group, whose activities include Douglas Perfumeries and retailers of confectionary, fashion, jewelry and books, registered a 6 percent sales gain in the quarter. In contrast, international revenues declined 2.8 percent.
Douglas Perfumeries’ 1,173 doors posted third-quarter sales of 431.5 million euros, or $620.7 million, up 0.2 percent versus the same prior-year period. On a like-for-like basis, the perfumeries’ revenues grew 3 percent. Douglas’ 445 perfumeries in Germany had a 5.4 percent sales uptick, while its 728 international doors’ revenues dipped 5.1 percent.
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Dollar figures are converted at the average exchange rate for the period to which they refer.
The company stated that investments in the current and coming fiscal years will continue to focus on Douglas perfumeries. Up to 65 million euros, or $92.5 million at current exchange, will be invested in opening 50 to 60 stores, primarily outside of Germany, as well as in modernizing existing doors and expanding international online sales.