Douglas plans 70 store closures as it slims European chain | Progresiv

As insiders report, Europe's largest perfumeries retailer wants to part with around 70 locations, which is around 3 percent of the 2400 branches across Europe. Douglas is currently trying to find individual solutions for the affected sites, by the end of 2020, the separation is completed. A large part of the affected employees should be offered a second job in other branches. How many people it is, was initially unclear.

Douglas did not want to comment on this request, but according to information from manager magazin.de will refer to it next week on the occasion of the balance sheet proposal for the 3rd quarter. CEO Tina Müller emphasized in her inaugural interview with manager magazin in the spring of 2018 that she was not planning any closures. On the contrary: "Almost all of our stores are highly profitable," it said.

However, Douglas stock market chart is showing how many retailers are increasingly showing amid falling visitor numbers in city centers and growing competition from online giants such as Amazon. Müller also had to recognize this and intensively put the store chain to the test a few months ago.

It was also discussed on much higher numbers of sites. The closure of over 200 stores stood in the room. The former Opel manager is realigning Douglas, relying mainly on the Internet. From the Christmas business Müller wants to score not only the sale of perfume and cosmetics with Douglas.de as a platform and expand the range through retail partners about accessories and fashion significantly.

Last year, the Düsseldorf-based trading giant was able to increase sales to 3.3 billion euros, but due to the tough price war in the industry, the loss increased to 290 million euros. "The past year was a year of reconstruction," said Müller at that time - and announced a "year of departure". (www.manager-magazin.de)