India, March 20 -- Douglas AG has lowered its forecast for the financial year 2024/25, citing a slowdown in the European premium beauty market, particularly in Germany and France. The already weak customer sentiment has worsened since February, resulting in reduced footfall in stores and lower online traffic. The company attributes this market development to growing uncertainty over macroeconomic and geopolitical tensions, the economic and political situation in Germany, and looming international trade conflicts, which could harm key industries and diminish overall purchasing power in Europe.
Looking ahead for the financial year 2024/25, the company now expects net income to be around 175 million euros compared to the prior outlook of 225 ...