Home / Knowledge / News / Fashion / Douglas net sales rise by 5.6%
Douglas net sales rise by 5.6%
08
Feb '08
During the first quarter of its 2007/08 financial year (October 1 – December 31, 2007), net sales in the DOUGLAS Group rose by 5.6 percent to about 1.1 billion EUR. Adjusted for the previous year's sales from René Kern and Pohland – both of which have since been divested – sales were 9.3 percent higher.

This gain is partly due to the continued dynamic expansion of the store network, which now comprises 1,873 locations. Like-for-like sales – which only reflect those locations operating during the current and previous years' quarters – were 1.6 percent higher than in the previous year.

The foreign subsidiaries made a very strong contribution to this solid performance with a sales gain of 15.0 percent, primarily thanks to the powerful international growth of the Douglas perfumeries abroad and the Thalia bookstores in Austria. Like for like, the increase outside Germany was 6.6 percent. Sales inside Germany were 1.4 percent higher, producing a marginal decline in like-for-like sales of 0.8 percent. In the previous year's quarter, German consumer spending had been artificially high due to an impending increase in sales tax.

At the end of January, Germany's Federal Office of Statistics reported that domestic retail sales during December 2007 had been lower than in December 2006 – by 4.9 percent in nominal terms and 6.9 percent in real terms. In this context, the DOUGLAS Group once again performed above the market average.

"All in all, we are notdissatisfied with our progress in the holiday season. We may have fallen just short of the good like-for-like sales from the previous year in Germany, but we more than held our own against the competition and further advanced our foreign expansion program," said Dr. Henning Kreke, President and CEO.

Given the rapid pace of expansion, the number of personnel in the Group also continued to rise. As of December 31, 2007, the DOUGLAS Group had 24,000 employees on its books. This is 3.2 percent more than at the balance sheet date of September 30, 2007.

Earnings before taxes (EBT) totaled 140.2 million EUR in the first quarter following 139.7 million EUR a year earlier. Adjusted for the contributions to earnings during the previous year's quarter from René Kern and Pohland, both of which have since been divested, EBT was 3.7 million EUR higher.


Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search