DUSSELDORF, GERMANY — The DOUGLAS Group, Europe's leading omnichannel premium beauty destination, has revised its financial guidance for the 2025/26 fiscal year after weaker-than-expected third-quarter performance. The company now expects net sales growth of 0-1% (€4.58-4.63 billion), down from its previous forecast of “at the lower end of €4.65-4.80 billion.” Adjusted EBITDA margin is projected at approximately 15.0%, compared to an earlier target of around 16.0%. Net leverage is anticipated to reach 3.0x to 3.5x by September 30, 2026, versus the prior expectation of “at the upper end of 2.5x to 3.0x.”
These adjustments reflect a significant shift in consumer behavior driven by ongoing geopolitical tensions and macroeconomic uncertainty. Customers have become highly price-sensitive, often delaying purchases in anticipation of promotions. The European premium beauty market is experiencing a channel shift, with e-commerce growing faster than stores and maintaining solid profitability at the EBIT level, while like-for-like store sales have turned negative. Cross-channel services such as Click-and-Collect are performing strongly. Category mix and overall spending patterns vary across markets, further pressuring revenues and profitability.
In response, DOUGLAS Group CEO Sander van der Laan outlined a strategic pivot: “We shift investments from our store to our online business; we are investing in competitive pricing, while further strengthening our differentiation and exclusivity; and we are continuing to drive digitalization forward. Some of these measures will deliver short-term benefits, while others will take longer to materialize.” The company is reallocating investments to sharpen its competitive edge, focusing on its omnichannel model, curated premium assortment, and strong brand partnerships. Van der Laan emphasized that the group remains “strongly positioned” thanks to its transformation into a true omnichannel retailer, which provides a clear head start and financial flexibility to navigate the current environment.
The DOUGLAS Group expects these strategic measures to safeguard profitable growth over the medium to long term. Further details on the strategic plan are slated for release during the quarterly reporting on August 12, 2026. For more information, visit the DOUGLAS Group Website.
