Douglas Posts Q3 Growth, Lifts 2024/25 Forecast
Douglas, the European beauty retail giant, returned to sales growth in the third quarter of its fiscal year 2024/25, with revenue increasing 3.2% to €1.0 billion. The rebound follows a 2.0% decline in the second quarter, when Easter falling in April weighed on results. Stripping out Disapo, the online pharmacy sold to Mya Health in 2024, quarterly sales rose 4.0% year over year.
Growth across most markets
Sales climbed across all segments except France, where consumer confidence remains weak and Nocibé stores posted a 1.6% decline. Central and Eastern Europe led the way with 10.5% growth, making it the fastest-expanding region in the quarter. Online sales grew 8.2%, outpacing the 2.1% increase in brick-and-mortar revenue. The digital channel now accounts for roughly one-third of total group sales.
Net income swung to a profit of €17.3 million from a loss of €71.6 million in the same period last year. The company attributed the improvement partly to operational efficiencies and the timing of seasonal sales.
CEO sees momentum building
Group CEO Sander van der Laan said Douglas is on track to meet its full-year targets. “We have delivered solid overall growth and are well positioned to achieve our objectives for the current fiscal year,” he stated. “While French clients continue to constrain spending, the strong performance across the vast majority of our 22 omnichannel markets has allowed us to return to quarterly growth after a difficult second quarter.”
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Germany, the company’s largest market, also regained ground and grew compared to the prior year. Van der Laan noted that Douglas remains focused on controlling general and administrative expenses while accelerating expansion, strengthening its brand, and investing in supply chain and technology capabilities. “These initiatives will reinforce our resilience going forward,” he said.
Nine-month performance and store expansion
Over the first nine months of fiscal 2024/25, group revenue rose 2.9% to €3.6 billion, or 3.8% excluding Disapo on a comparable basis. Store sales contributed 3.1% to growth, while online revenue increased 2.6%, or 5.2% when excluding Disapo. Adjusted EBITDA stood at €634.1 million, down 3.5% from the prior year.
Douglas also confirmed progress on its physical retail expansion. The company aims to open roughly 200 new stores by the end of 2026 while renovating about 400 existing locations. Between April and June 2025, the group inaugurated 22 company-owned stores, including a flagship location in Antwerp, Belgium, and a new 300-square-meter Nocibé flagship at Paris La Défense, Europe’s largest shopping center. The total network grew by 40 stores during the nine-month period.
