Douglas Group’s sales grew 1.7% to €1.67bn in the first quarter of 2026 despite what it described as a “challenging market environment”.
The European premium beauty retailer’s adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin was 19.9% for the quarter from October to December 2025.
This was compared with 21.5% in the same period the previous year, “reflecting high price sensitivity of customers and product mix effects”.
The picture was mixed across sales channels and countries, the company said, with customer uncertainty and price sensitivity remaining high.
Singles’ Day and Black Week performed “relatively” well for the retailer, but also partially contributed to a “forward pulling effect” of Christmas purchases.
Sales in December were weaker than expected, following a strong November, particularly in Germany, France and the Netherlands.
“The environment in which we operate remains challenging, with macroeconomic and geopolitical developments continuing to weigh on consumer sentiment and increase customers’ price sensitivity,” said Sander van der Laan, CEO of the Douglas Group.
“Despite these conditions, the Group remains strongly positioned in the premium beauty market.
“With numerous strategic initiatives already being implemented, ongoing disciplined cost management and our strong market position we expect to grow profitably going forward.”
Douglas Group’s outlook for the rest of the year remains unchanged, with full-year sales of between €4.65bn and €4.8bn expected, and an EBITDA margin of around 16.5%.