Key Takeaways:Douglas Group delivered 2.8% net sales growth in FY 2024/25, but adjusted EBITDA margin declined to 16.8%.E-commerce now accounts for nearly one-third of total sales, growing faster than stores on an adjusted basis.With guidance, the next phase for Douglas will depend on cost control, working capital discipline, and performance in higher-growth regions.Fiscal Year 2024-2025 marked a transition year for Douglas Group as Europe’s premium beauty retail market moved from post-pandemic expansion into a more normalized, competitive phase. After several years of price-led growth, easing inflation and cautious consumer sentiment reshaped demand across key Western European markets, particularly Germany and France. Against this backdrop, Douglas continued to execute its omnichannel strategy while absorbing higher operating costs and moderating sales momentum.The year tested the resilience of Douglas’ business model, including balancing its physical retail scale with growing e-commerce penetration, managing promotional intensity, and protecting margins while continuing to invest in stores, logistics, and digital infrastructure. While top-line growth remained positive, profitability declined amid cost pressures and a shift in category mix.In a press release, Sander van der Laan, CEO of Douglas Group, said, “In a very volatile and thus challenging year, we have accomplished results within expectations. Going forward, we anticipate solid overall growth in Europe’s premium beauty market but observe a changing consumer behavior compared to the highly dynamic post-pandemic years.