BERLIN — Net profits at Douglas Group AG rose 4.4 percent in its fiscal first quarter to 95.7 million euros, or $124.1 million.
Earnings before taxes at the Hagen, Germany-based group, which includes confectionery, fashion, book and jewelry retailers as well as Douglas Perfumeries, increased 2.8 percent to 144.5 million euros, or $187.4 million, in the three months ended Dec. 31.
Dollar figures are converted at average exchange rates for the period in question.
Group sales gained 1.5 percent to 1.21 billion euros, or $1.57 billion. International stores showed the greatest growth, rising 4.1 percent to 395.1 million euros, or $512.4 million. First-quarter revenues in Germany increased 0.3 percent to 816 million euros, or $1.06 billion.
During the period, online sales constituted about 7 percent of total revenues, driven by Douglas Perfumeries and purchases of Christ jewelry.
Sales at the firm’s 1,197 Douglas Perfumeries increased 4.1 percent to 684.3 million euros, or $868.4 million. Sales in the 446 domestic perfumeries gained 3.4 percent to 370 million euros, or $479.9 million. Douglas’ 751 international perfumeries also performed well, with revenues up 4.9 percent to 314.3 million euros, or $407.6 million.
During the first quarter, Douglas Group invested 14.7 million euros, or $19.1 million, to open 20 new stores, including 14 Douglas Perfumeries abroad. The company said it also improved and expanded floor space in existing doors.
“All in all, this trend in sales during the first quarter gives us a solid foundation for the rest of the fiscal year,” Douglas president and chief executive officer Henning Kreke said in a statement.
As reported, Douglas Holding was taken over by Advent International in a transaction completed in January.
On Tuesday, Douglas Holding announced it had named Dennis Schulze as chief financial officer with immediate effect.