Douglas Third Quarter Sales Boosted By Online Growth, But Profits Fall

0

By Joshua Kirby


German perfume and cosmetics retailer Douglas GmbH said on Wednesday that the continued acceleration in e-commerce had boosted revenue in the third quarter of the fiscal year, although profits fell due to unfavorable comparative effects.

Sales rose 17% to 644 million euros ($ 757.2 million) in the three months ending in late June, Douglas said. The company was listed in Frankfurt until 2013 before going private. E-commerce sales continued to accelerate with an increase of 20% year on year, more than double compared to the same period two years ago and representing around 42% of the total.

The current result before interest, taxes, depreciation and amortization fell by 10% over one year to 24 million euros. This decrease is due to pandemic-related cost adjustments made during the corresponding period of the previous year, Douglas said. This year, there have also been fewer short-time working payments and reductions in store rental costs linked to the lockdown, he said.

In June, Douglas chief executive Tina Mueller told reporters the company, which is owned by private equity firm CVC Capital Partners, could go public. Performance in the coming months would be decisive, Ms. Mueller said at the time.


Write to Joshua Kirby at [email protected]; @joshualeokirby


Source link

Share.

About Author

Comments are closed.