Home News Douglas confirmed despite loss in 3Q on track – Outlook

Douglas confirmed despite loss in 3Q on track – Outlook


Douglas_20090225_001_(c) Anders HAGEN (Dow Jones) – The retail group Douglas is in spite of a loss in the third quarter on course . Sales and profit rose in the first nine months of fiscal year 2009/2010. (Photo : Anders)

The company profited from a good business in Germany by the full consolidation of subsidiaries buch.de. The forecast for the current fiscal year reiterated Douglas.
The sales growth is therefore 2009/2010 at the top end of the range are from 0 % to 2 %, earnings before taxes at the upper end of the range of 120 million to 130 million EUR.
The Douglas Holding AG achieved as the other business groups also the lion’s share of annual profits traditionally associated with the holiday season . This is in Douglas in the first quarter. The remaining quarters this fall , with the exception of the Easter business from weaker trend .
For the third quarter, the MDAX – group reported an expected loss. Before tax was higher with the minus 1.6 ( minus 0.5 ) million EUR for the same quarter last year , which was also the Easter business accounts. On balance , the deficit was 2.4 ( plus 0.5 ) million EUR.
The MDAX-listed shares are held in the early afternoon in a very weak market environment with a loss of 0.2 % to 34.64 EUR relatively stable.
The figures for the first nine months fell within the overall market expectations. As noted positively the bank lamp , the robust domestic business. The interim report showed that business in Germany had been the support for Douglas , wrote the analyst with the Bank , Christoph Schlienkamp , in a research note. were also positive , he noted the increase in pre-tax profit margin to 5.3 % (4.5 %) contributed to all areas – including the long loss-making fashion business – .
In the nine-month period , earnings before taxes 134.7 ( 110.6 ) million EUR. This increase was a one-off from the revaluation of the previously held shares in the case of buch.de of 6.1 million EUR. The prior year was impacted by one-time however the result of EUR 12 million , stemming from sub-letting of AppelrathCüpper fashion store in Berlin and closures in the perfume store network .
Adjusted for special effects -tax profit amounted to 128.6 ( 122.6 ) million EUR. Douglas earned net EUR 89 million .
Sales of the Hagen trade group grew by 3.2 % to EUR 2.56 billion . Like-for it was hung only plus 0.1 %.
In Germany, sales rose by 4 % to 1.67 billion EUR, like- a plus of 1.6 % remained . " We are pleased with our performance in the first nine months , particularly in our important home market of Germany, quite satisfied, " said the CEO Henning Kreke. He had the impression that the macroeconomic situation improves more . " That makes us feel very optimistic for the future . "
Foreign sales developed , however , as in previous quarters behave ", as Douglas reported on. In some markets, particularly in Eastern Europe the economic situation was still difficult. The company achieved the sole basis of new stores , an increase of 1.9 % – like- however, the group had suffered a decline of 2.8 %.
The investment volume decreased by the end of June to 72.7 (88.7 ) million EUR in the previous year. The pace of expansion slowed Douglas: The investments were in 62 (previous year : 88) as well as new store openings in area expansion and modernization of the branch network . The business opened perfumery in the first nine months of fiscal year 41 ( 69) Retailers (previous year : 69) , of which 36 (61 ), the majority in the country.
At end- June 2010 to operate the Douglas Group total 1 977 shops and 22 to less than one year ago . This was due to the closure of shops in the planned network of branches cleanup. It was implemented the data show that about half of the planned closures, which only covered the perfumery .
Douglas announced that it expected to realize from the capital budget for 2009/2010 of EUR 120 million , only up to 100 million to 110 million EUR. The bulk of investment flows in the continued growth of the Douglas perfumery . A total of 50 new stores are planned in Europe , with the expansion areas are located in Italy and Poland . In range area is still the development of exclusive and private brands in the foreground , such as personal care line "JS Douglas sons, " which was launched in May on the market.
The perfume obtained in the nine-month sales growth of 1.6% to EUR 1.47 billion . The domestic business has benefited from the actions of the 100 -year anniversary. Like- could not compensate for the good business in Germany , the decline in foreign countries. It remained a minus of 0.6 %.
A clear growth reached the area with the Thalia Book stores , whose sales rose only thanks to the consolidation of buch.de by 8.8 %. The 288 Thalia bookstores, however, recorded a sales decline by 0.7 % like- (: minus 1.9%).
The book business has disappointed, Hauck & Aufhauser commented on the figures. Besides the lack of best-sellers make the Thalia bookstores , the continuing competition to create the Internet that Douglas tried to meet with a multi -channel strategy. According to press reports in the fall of Douglas will introduce its own e-reader .
Sales in the candy store Hussel also went back because of branch closures , as well as the business houses in the Ladies AppelrathCüpper . AppelrathCüpper abolished after the sublets of the Berlin branch while the jump in the profit zone.
The jewelry sector recorded a Christian , however , thanks to the focus on exclusive brands and trend growth.

Website: www.douglas – holding.de
– By Natali Schwab , Dow Jones Newswires
+49 69 29725 119, natali.schwab @ dowjones.com
DJG / nas / ebb / sh