The perfumery chain Douglas DE000BEAU7Y1 also felt the effects of increasing consumer restraint in an uncertain economic environment in the second quarter of the financial year.

Group sales fell by two percent year-on-year to EUR 939 million in the three months to the end of March, the company, listed on the SDax DE0009653386 index, announced on Thursday. In addition to customer reluctance to buy, the Easter holiday, which fell in the third quarter, also had a negative impact.

Earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for special items, amounted to €122.4 million, a good 16 percent lower than a year ago, while analysts had expected a larger decline. The net loss decreased from just over €41 million to €19 million.

The company confirmed the annual targets it lowered in March. Douglas expects sales to increase slightly to around €4.5 billion, with 17 percent of this expected to be adjusted EBITDA.