Multinational beauty retailer Douglas has raised its full-year guidance for 2024.
The German-led business expects sales growth of 8.5% over its previous prediction of 7%, based on “positive’ preliminary results for Q3.
Income is expected to increase by 7.3% for the quarter ended June 2024, driven by a bumper performance from the retailer’s physical and online channels.
Group sales for the first nine months of the financial year are also expected to increase by 8.7% to €3.5bn.
“We have made excellent progress in recent years and months and increased our sales again in the third quarter,” said Sander van der Laan, CEO of Douglas Group.
Douglas said it will continue to focus on its ‘Let it Bloom’ retail strategy based on growing its core premium beauty business.
This has seen the retailer offload its online pharmacy business Disapo to MYA Health, which it anticipates will improve its profitability in the future.
Douglas acquired Disapo in 2022 as part of a former strategy to enter the pharmacy market and combine its beauty and health offerings.
The transaction for the sale is expected to close by the end of July.
“We are growing stronger than expected and continue to improve our profitability,” added van der Laan.
“This is exactly how we want to continue.”
