299
Fashion Jobs
L'OREAL GROUP
Assistant CRM Manager
Permanent · HONG KONG
L'OREAL GROUP
Key Account Manager
Permanent · HONG KONG
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
By
Reuters
Published
May 28, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

German retailer Douglas hopes to manage without state aid

By
Reuters
Published
May 28, 2020

Private-equity controlled German perfume retailer Douglas said on Wednesday it hopes to be able to make it through the coronavirus pandemic without state aid, even though it expects an ongoing hit to sales.


Douglas has expanded its online business in recent years and had posted strong sales in its first fiscal quarter and through to February - Douglas


“We assume that the third quarter will continue to be significantly affected by the coronavirus,” finance chief Matthias Born told Reuters.

Sales in the second quarter of the 2019/20 fiscal year fell 9.9% to 656 million euros ($720.29 million) and the chain posted a net loss of 51 million euros.

Douglas had been talking to state-owned development bank KfW about a loan but discussions have been put on hold as it could not reach an agreement on conditions.

Born said KfW had set conditions that were difficult to fulfill, adding: “That’s why there’s a break in the talks.”

“We assume that we will be able to make it into the Christmas period without state support,” Born said, adding that Douglas is discussing extended payment terms with suppliers and trying to renegotiate store rental terms.

Douglas has expanded its online business in recent years and had posted strong sales in its first fiscal quarter and through to February, but was then forced to close almost all of its 2,400 stores across Europe in March.

Born said majority-owner financial investor CVC should not have to inject more capital.
The firm said earlier this month its chief executive Tina Mueller would be on medical leave for an unknown period.

People close to the matter told Reuters in February that majority owner CVC Capital Partners was exploring options to sell or list Douglas.

But an initial public offering of Douglas is currently off the agenda due to the turmoil the coronavirus has unleashed on markets.

© Thomson Reuters 2024 All rights reserved.