Douglas posts Q1 sales growth of 8.3 percent

European omni-channel beauty platform Douglas increased group sales by 8.3 percent to around 1.56 billion euros in the first quarter.

The company said in a preliminary results statement that the positive start to the financial year was due to the good results of both channels. Store sales recorded an increase of 7.1 percent with lie-for-like sales growth of 6 percent, while the ecommerce business grew by 10.7 percent with like-for-like sales increase of 10.7 percent.

Commenting on the first quarter update, Sander van der Laan, CEO of Douglas Group, said: "Regardless of the difficult economic circumstances, our customers are attracted by our comprehensive beauty offering and appreciate the broad omnichannel range of brands. We are on track to achieve our ambition of 5 billion euros net sales in 2026."

The company added that in the mid-term, Douglas has the ambition to grow group sales at a compound annual growth rate (CAGR) of around 7 percent. The company also aims to further achieve an adjusted EBITDA margin of around 18.5 percent with typical fluctuations year-overyear.