BERLIN — Douglas Perfumeries saw third-quarter earnings before interest, taxes, depreciation and amortization drop 4.4 percent to 34.4 million euros, or $53.8 million at average exchange, on revenues that rose 7.4 percent to 411.1 million euros, or $642.7 million.
This story first appeared in the August 14, 2008 issue of WWD. Subscribe Today.
With a total of 1,120 doors — 442 in Germany, and 678 around the globe — Douglas continues to expand its perfumery base. As part of its push eastward, the company launched new locations in Bulgaria and Croatia by acquiring a majority stake in the company Parfumerie Douglas Bulgaria OOD, of Sofia, Bulgaria, in April, and a 51 percent stake in the Croatian perfumery company IRIS d.d., in Zagreb, Croatia, in July.
Croatian market leader IRIS has a total of 42 perfumeries and annual sales of approximately 20 million euros, or $30 million at current exchange.
Douglas said the highest sales gains for the last two quarters were reported by its perfumeries in Poland, the Netherlands, Italy and Russia.
The Douglas Group, based in Hagen, Germany, also includes book, jewelry, fashion, confectionery and service divisions. Group results for the third quarter ended June 30 showed a 0.7 percent uptick in net sales to a total of 667.7 million euros, or $1.04 billion at average exchange, and a 9.6 percent fall in reported EBITDA to 27.4 million euros, or $42.84 million.