Observed Signal · Jun 18, 2026 · Earnings Report · Source: Manager Magazin · Impact: 3/5 · Sentiment: Negative
Douglas cuts guidance again; shares hit record low
Douglas, the German perfumery chain, has again lowered its full-year outlook for fiscal 2025/26, citing weaker-than-expected third-quarter trading and price-sensitive consumers. The company now expects group revenue growth of 0–1%, implying sales of €4.58–4.63 billion (previously aiming at the lower end of €4.65–4.80 billion). Adjusted EBITDA margin guidance was cut by about one percentage point to roughly 15%, and leverage is expected to be higher than previously forecast. The SDAX-listed retailer said the third-quarter figures will be published on 12 August. Following the update the Douglas share price fell more than 8% in afternoon trading and touched a record low.
Public retailer Douglas materially cut its full-year guidance and lowered margin expectations; this affects investor sentiment and could influence retail spending and marketing budgets, with knock-on implications for retail media and advertiser demand.
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Key Takeaways & Evidence Grounding
- Douglas lowered its fiscal 2025/26 revenue growth guidance to between 0% and 1%.
- Expected group revenue is now forecast at €4.58–4.63 billion for 2025/26.
- Adjusted EBITDA margin guidance was reduced by about one percentage point to around 15%.
- Douglas said third-quarter results will be published on 2026-08-12.
- The company's shares fell over 8% and reached a record low after the announcement.
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Douglas Q3 Operating Profit Falls Significantly
Douglas, the perfumery retail chain, reported slightly lower revenue and a notably weaker operating result in its third business quarter 2025/26, citing weak consumer sentiment across several markets. The company confirmed its existing forecast. The article was published on 2026-08-12 by Lebensmittelzeitung (Deutscher Fachverlag).
Douglas shifts to digital after weak core markets
Douglas Group reported weaker Q3 2025/26 results as demand softened in key Western European markets and price competition intensified. April–June revenue fell 2.0% to €987.8m and adjusted EBITDA declined 19.4% to €127.5m (margin 12.9%). Nine-month revenue rose slightly (+0.5% to €3.61bn) while adjusted EBITDA fell 9.0% to €577.3m. The company confirmed its full-year guidance for 2025/26 and said it will increase its digital focus, review and rationalize its store network, expand exclusive brands and cross-channel services, and standardize group-wide structures. E‑commerce trends vary regionally (double-digit growth in parts of Southern/Central Europe and France but declines in DACHNL), Retail Media revenue grew 24%, and Click & Collect Express usage rose. Douglas plans to present a strategy update (“Let it Bloom”) in Q4 2026 emphasizing technology, e‑commerce, cross‑channel services, and a more profitable store footprint.
Hawesko Cuts 2026 Guidance After Weak Quarter
Hawesko Holding SE lowered its 2026 financial guidance after weaker-than-expected July and third-quarter developments and only limited seasonal pickup expected. Revenue is now forecast to fall 2–4% year-on-year (previously up to +2%). Operating EBIT before one-offs is guided to €23–26m (previously €28–32m). One-off charges may reach up to €4m (previously max. €2m). Free cash flow guidance was reduced to €28–33m (previously €30–36m) and ROCE is now expected at 9–11% (previously 11–14%). In H1 2026 Hawesko reported revenues of €274.8m (down 3.6% from €285.1m), an improved gross margin (43.9% → 45.2%) and operating EBIT decline from €6.1m to €5.1m. Management plans to intensify the FOKUS efficiency program and transform its e-commerce operations starting in autumn.
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