Yesterday (May 29), the Douglas Group, a leading European omni-channel beauty platform, reported a robust financial performance for the second quarter, confirming preliminary figures released previously. According to financial report, the group’s overall sales surged by 11.5%, reaching approximately 958 million euros. This growth was driven by a significant increase in both store and ecommerce sales. Store sales rose by 11.9%, with like-for-like growth at 10.8 percent, while ecommerce sales grew by 10.7%, achieving a like-for-like increase of 10.4%.
Sander van der Laan, CEO of the Douglas Group, highlighted the company’s strong market position and consistent performance across all segments. He attributed the growth to the effectiveness of their omnichannel model, which continues to drive sales while maintaining cost efficiency and enhancing profitability.
The Douglas Group’s adjusted EBITDA climbed by 16.2% to 145.9 million euros, translating to an adjusted EBITDA margin of 15.2%, an improvement of 0.6% from the previous year. Despite these positive figures, the net income for the quarter was negative, amounting to 41.3 million euros.
For the first six months of the financial year, the company reported net sales of around 2.5 billion euros, marking a 9.3 percent increase. Adjusted EBITDA for this period rose by 13.6% to 494.2 million euros. Store sales for the half-year increased by 8.6% with like-for-like growth of 7.7%, while ecommerce sales maintained a growth rate of 10.7%, with like-for-like growth at 10.5%. Net income for the six-month period reached 83.9 million euros, an 18.1 percent increase.
The Douglas Group also expanded its physical presence by opening 10 new stores and refurbishing 37 existing ones in the first half of the financial year. The company plans to open over 40 additional stores by the end of the current financial year and is on track to meet its ambitious target of more than 200 store openings and 400 store upgrades by the end of the 2025/26 financial year.
Looking ahead, the Douglas Group forecasts a 7% increase in sales for the financial year 2023/24, driven by growth in both store and ecommerce channels. The company anticipates mid-single-digit growth in store sales and high-single-digit growth in ecommerce sales in the mid-term, continuing to leverage its successful omnichannel strategy.
