Douglas sales up 4.1%
… despite sluggish fragrance business growth
Germany’s Douglas Holding has announced that during the first five months of the current fiscal year – from 1 October 2010 to 28 February 2011 – net sales reached €1.6bn, a 4.1% increase on the previous year. This growth was driven by a strong domestic performance; in Germany the group’s sales grew 5.8%. International sales, meanwhile, increased 0.8%.
Douglas’ perfumery business, however, increased just 2.2% and growth was largely on the back of good jewellery and book sales, up 10.7% and 6.0% respectively.
“Overall, we had a pretty good start to the new business year. We have a good foundation to achieve the goals we have set for ourselves and we are maintaining the forecast found in the annual report in regards to sales and profit growth,” comments Henning Kreke, president and ceo, Douglas. “The executive board expects sales to rise by 2% to 4% in 2010/2011 and pre-tax earnings to rise from €131m to nearly €140m.”