Douglas GmbH: Standard & Poor’s upgrades DOUGLAS‘ outlook to stable, affirms rating
EQS-News: Douglas GmbH
/ Key word(s): Rating
Standard & Poor’s upgrades DOUGLAS‘ outlook to stable, affirms rating
Düsseldorf, 06.07.2023. Rating agency Standard & Poor’s Global Ratings has upgraded the outlook for DOUGLAS GmbH to stable as the operating performance exceeded its expectations in 2022, with record sales of €3.7 billion and stronger margins. Although S&P expects Douglas to sustain these improvements, the effect of inflation on discretionary spending and costs, combined with rising interest rates, could curtail further improvements.
While S&P anticipates that results for the full fiscal year will be in line with trading in the first six months of fiscal 2023, the rating is still constrained by Douglas’ limited capacity to generate positive FOCF after leases, as well as the high leverage. With regard to the economic environment, S&P expects that discretionary spending could be hit by high inflation, but views beauty items as less discretionary. S&P anticipates that customers will cut back their consumption of larger articles, such as washing machines, and more discretionary items, such as clothing, rather than of their beauty products.
DOUGLAS is Europe’s leading omni-channel beauty destination. We inspire customers to live their own kind of beauty by offering an unparalleled assortment in online stores, via a partner program and in around 1,800 stores. Strengthening our successful omni-channel positioning while consistently developing the customer experience is at the heart of our strategy. In its fiscal year 2021/22, DOUGLAS generated sales of 3.65 billion euros in perfume, decorative cosmetic, skin and hair care nutritional supplements, health care and accessories.
Head of Investor Relations and M&A
Phone: +49 (0) 211 16847 8594
SVP Global Communications & Sustainability
Phone: +49 (0) 211 16847 664
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Hanover, Munich, Stuttgart; Dublin|
|EQS News ID:||1673631|
|End of News||EQS News Service|