BERLIN – Based on preliminary sales figures, the Douglas Group said its earnings forecast for fiscal 2007/08 “remains just within reach.” The group, which includes Douglas Perfumeries, as well as book, jewelry, fashion, and confectionary retail divisions, set a profit target before taxes of about 150 million euros.
Group sales rose 4.6 percent to $4.72 billion (3.14 billion euros). Adjusted for the divested Pohland and Rene Kern apparel retail businesses, group sales were up 8.1 percent. Dollar figures are converted from euros at an average exchange rate for the period.
At Douglas Perfumeries, which contribute more than half of group sales, sales grew 8.8 percent to $2.75 billion (1.83 billion euros). On a like-for-like basis, sales for the perfumery chain rose 3.1 percent.
Non-domestic sales now account for 50 percent of Douglas perfumery turnover. Sales outside of Germany rose 14.1 percent, or 4 percent on a like-for-like basis.
There are now 726 non-domestic branches, compared to 445 in Germany. Douglas said the greatest gains were made in Poland, Holland, Russia, Italy and its newly acquired Baltic stores, but sales in Spain suffered from a weak consumer environment in the second half of the year. At home, perfumery sales were up 4 percent for the year.
Final figures will be released on Jan. 14, 2009.
For complete coverage, see Thursday’s WWD.