Perfumery operator Douglas Group admitted that the global economic and financial crisis hampered its 2008/09 financial year, as it posted results for the period.
Consolidated sales rose 2.3% to E3.2bn (£2.9bn). However, like-for-like sales slid 1% against the previous year’s figure.
The brakes were applied to the retailer’s capital expenditure during the period. The group streamlined its store network by closing 50 underperforming perfumeries.
However, the group also opened a further 104 stores in Germany and overseas, and upgraded a number of existing stores.