Douglas reports strong FY growth | Progresiv

The Douglas Group has reported a strong set of results for its last fiscal year, as it grew market share across Europe, helped by its reorganization strategy.

For the year ending 30 September, sales jumped up 17% to 3.3 billion euros, with adjusted EBITDA up 6% to 376 million euros.  Sales in German recovered in the fourth quarter after weakness in the earlier part of the year, but international sales continued to grow overall.  Meanwhile, online sales grew by 11% to 423 million euros, which Douglas said made it the continent’s largest e-retailer in its field.

Douglas said the results were helped by its ongoing store revamp programme, which will continue in 2019 and is expected to further accelerate growth.  It also said it benefitted by “significant changes to its assortment”, as well as a sharp increase in customer loyalty card holders.

CEO Tina Müller noted: “After all our hard work in the last year, fiscal 2018/19 promises to offer us a new start. Many of the measures we have put in place are beginning to bear fruit. As the leading omnichannel retailer, we already occupy a strong position in the European market, and we intend to build on that.”

Douglas currently operates about 2,400 stores and online shops in 21 European countries. (www.kamcity.com)