Douglas GmbH: Douglas reduces its store network by around 500 stores; ongoing EBITDA contribution of around 120 million euros and net one-off cash charge of 94 million euros expected
Douglas GmbH / Key word(s): Strategic Company Decision
Douglas has completed the analysis of its Europe-wide store network, which was initiated in the summer of 2020, and has decided on adjustments with the approval of the Supervisory Board and shareholders. Around 500 of the approximately 2,400 shops across Europe are to be closed by the end of September 2022, mainly in Southern Europe. With the adjustments to the store network a leaner organisational structure will be implemented. As a result, Douglas expects an annual EBITDA contribution of around 120 million euros. This comes with an estimated one-off cash charge of 94 million euros net in the financial years 2020/21 and 2021/22.
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Hanover, Munich, Stuttgart; Dublin|
|EQS News ID:||1163928|
|End of Announcement||DGAP News Service|