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Reuters
Published
Oct 8, 2009
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Douglas year sales up 2.2%, keeps earnings outlook

By
Reuters
Published
Oct 8, 2009

Douglas
Douglas

FRANKFURT, Oct 8 (Reuters) - German fragrance-to-fashion retailer Douglas (DOHG.DE) on Thursday 8 October reported a 2.2 percent rise in 2008/09 sales, meeting analysts' estimates, while keeping its earnings guidance for the year in place.

Douglas' group sales in the 12 months to the end of September rose to 3.2 billion euros ($4.70 billion) from 3.1 billion euros in the same period last year, in line with the average estimate in a Reuters poll of analysts.

"Now that our sales target was just within reach, we still believe that we will reach our earnings target as well," Chief Executive Henning Kreke said in a statement.

Douglas aims for full-year earnings before tax of 120 million to 130 million euros before one-off effects of up to 30 million euros.

It is due to report full-year earnings on Jan. 13.

Douglas shares were indicated 1.1 percent higher ahead of the market opening at 0700 GMT, according to pre-market data from brokers.

Douglas shares trade at 15.7 times 12-month forecast earnings at a slight discount to glasses and contact lens retailer Fielmann (FIEG.DE), which trades at a multiple of 17.8, according to Thomson Reuters StarMine.

StarMine weights analyst estimates according to their track record. (Reporting by Eva Kuehnen)

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