Yesterday, The Douglas Group reported a robust financial performance, with sales growing by 7.3 percent to €977.1 million in Q3 of 2024(April-June 2024), confirming preliminary figures from July 17, 2024. The company raised its outlook for the year, now expecting net sales to increase by around 8.5 percent. The group remains on track to achieve its mid-term earnings target, with an anticipated adjusted EBITDA margin of approximately 18.5 percent.
CEO Sander van der Laan highlighted the company’s strong third-quarter results, attributing the growth to a focused strategy on premium beauty, which has resonated well with customers. The European omni-channel beauty retailer reported a 7.2 percent increase in store sales, with like-for-like (LFL) growth of 6.3 percent. Ecommerce sales also saw significant growth, rising by 7.5 percent, with LFL sales up by 9.8 percent.
In the first nine months of the financial year (October 2023-June 2024), group sales increased by 8.7 percent to around €3.5 billion. This growth was driven by an 8.2 percent rise in store sales (with 7.4 percent LFL growth) and a 9.8 percent increase in ecommerce sales (with 11.9 percent LFL growth). The group achieved an adjusted EBITDA of €162.9 million from April to June, reflecting a 5.6 percent improvement from the previous year, with an adjusted EBITDA margin of 16.7 percent. However, net income for the quarter was negative at €71.6 million.
For the first nine months, the group generated an adjusted EBITDA of €657.1 million, marking an 11.5 percent increase and an adjusted EBITDA margin of 18.8 percent. Douglas aims to open more than 200 new stores and refurbish over 400 existing stores by the end of 2026. So far, 38 new stores have been opened, and 69 stores have been refurbished, while 19 stores, including six franchises, have been closed.
To further enhance its premium positioning, Douglas announced plans to refresh its websites, online shop, and apps with a new look and feel starting in early September.
