BERLIN — Hagen, Germany-based Douglas Group released its final first-quarter figures, reporting a 9.2 percent rise in net profits to 96.3 million euros, or $142.5 million.
Group sales for the three months ended Dec. 31 were up 0.5 percent versus the prior year to 1.13 billion euros, or $1.67 billion, slightly below what the company — which includes Douglas Perfumeries and book, jewelry, fashion and confectionery retailers — released in its preliminary first-quarter numbers last month, which had indicated a sales gain of 0.7 percent.
Dollar figures are converted at average exchange rates for the period.
The 1,230 Douglas Perfumeries turned in first-quarter sales of 641.6 million euros, or $949.6 million, under last year’s figure by 0.9 percent. Currency-adjusted sales rose 0.2 percent.
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Like-for-like sales for the division dropped 2 percent, due to sluggish economic conditions outside Douglas’ home market, the company stated. The 452 German perfumeries delivered a sales increase of 0.9 percent, and net sales of 325.5 million euros, or $481.7 million, in contrast to the sales decline of 2.6 percent to 316.1 million euros, or $467.8 million, registered by the 778 perfumeries in foreign markets, where like-for-like sales slumped 3.9 percent. The firm cited low turnover in Spain, Portugal, Hungary and the Baltic States.
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“Rough waters lie ahead in some foreign markets due to tough economic times. Nevertheless, on the basis of a quite respectable Christmas trade — even when viewed across all countries — we have established a solid platform for the rest of the financial year,” stated Henning Kreke, president and chief executive officer of Douglas Holding AG, Douglas Group’s parent company.
Looking ahead to fiscal year 2009-10 as a whole, the group forecasts sales growth of between zero and 2 percent, and earnings before taxes of between 120 million euros, or $165.4 million at current exchange, and 130 million euros, or $179.2 million at current exchange.