BERLIN — Douglas Group posted a 2.2 percent rise in net sales to 3.2 billion euros, or $4.35 billion at average exchange, for its fiscal year ended Sept. 30, according to preliminary results.
The firm, whose activities include Douglas Perfumeries, plus books, jewelry, fashion and confectionery retail businesses, had predicted 2 percent growth.
“Keeping in mind the current economic conditions, we are not dissatisfied with this achievement,” stated Henning Kreke, president and chief executive officer of Douglas Holding, Douglas Group’s holding company.
During its fiscal year, Douglas Perfumeries opened seven domestic doors and 42 stores outside of Germany. Its total of 1,220 doors racked up net sales of 1.9 billion euros, or $2.53 billion, a 1.6 percent on-year uptick. On a like-for-like basis, revenues decreased 1.6 percent. In Germany, sales at Douglas Perfumeries’ 452 doors increased 1.2 percent to 920 million euros, or $1.25 billion. Meanwhile, abroad, Douglas’ 768 perfumeries generated revenues of 932.2 million euros, or $1.27 billion, representing a 2 percent gain.
The firm’s 203-door Christ jewelry store chain reported a 2.3 percent sales increase to 293 million euros, or $398.5 million. The company’s AppelrathCüpper fashion stores generated revenues of 131 million euros, or $178.2 million, down 11.5 percent on-year. A restructuring plan to aid the ailing retailer will include an increased focus on the mid- to upper range of women’s apparel paired with competitive pricing.