Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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50 Management Report Key results Business activities and operating environment Net assets, financial position and result of operations DOUGLAS HOLDING AG Subsequent events Control system and success factors Opportunities and risks situation Statutory disclosures Forecast and overall assessment Fig. 14 est groups – employees, shareholders, creditors or the public sector. The result represents the macroeconomic performance of the DOUGLAS Group. In the 2009/10 fiscal year, the Group’s performance increased by 3.5 percent to over 3.5 billion EUR as a consequence of sales growth. Net of intermediate input, the value added generated by the DOUGLAS Group totaled 865.0 million EUR (prior year: 820.2 million EUR), translating into an increase of 5.5 percent year-on-year. The bulk of the value added – 83.2 percent – went to the benefit of the DOUGLAS Group’s employees. The public sector received 6.4 percent of value added. Based on the dividend currently being proposed, the DOUGLAS Group’s shareholders account for 5.0 percent of value added with 1.6 percent going to creditors and 3.8 percent remaining within the Group. Headcount slightly higher The DOUGLAS Group’s positive performance delivered in the 2009/10 fiscal year is largely due to the high dedication of its employees. With their extraordinary enthusiasm and high service-orientation, the employees make sure that the customers receive expert advice and service, thus enjoying making purchases at the DOUGLAS Group’s specialty retail stores. As of September 30, 2010, the headcount increased by 465 to 24,655 year-on-year. This includes new employees both in Germany and abroad. As of the balance sheet date, there were 15,164 employees in Germany or 403 more than the year before. Outside of Germany, the workforce number of 9,491 was slightly higher than the prior year’s figure of 9,429. Personnel expenses in the 2009/10 fiscal year totaled 720.3 million EUR or 3.2 percent above the prior year’s figure. The ratio of personnel expenses to sales of 21.7 percent matched the prior year’s level. To meet the demographic changes and increasing demands from customers, the DOUGLAS Group focuses on consistent training and continuing education of its employees. In 2010, 670 young individuals began their vocational training at a specialty retail store or at the service headquarters. This represents a trainee rate of nearly 13 percent, which once again places the Group well above the sector average of roughly eight percent. Accordingly, the DOUGLAS Group again proves its high commitment to the training of young professionals. Another instrumental success factor is staff development, which deals with both technical and leadership issues. Specified for the requirements of the subsidiaries, special programs and courses are developed to meet the individual needs of the employees. Continuing education is offered at the “Douglas Academy” for the German Douglas perfumeries, at the “PROMIs-Program” for the Christ jewelry stores and at the “Thalia Academy” for the Thalia bookstores. On a cross-company level, the DOUGLAS HOLDING ACADEMY creates seminars, workshops and informative events for upper management, focusing on the latest developments and trends in the strategic further development of the divisions. In addition, it supports the exchange of information across all departments
Fig. 14 · Employees by division Change year-on-year and makes a key contribution to improving internal knowledge at the management level and developing corporate culture. The training courses offered to sales staff continues to focus on the key “selling” topic. The 2009/10 fiscal year kicked off with successful, new programs, which dealt with the emotional side of selling. Moreover, the potential of integrating stationary retail trade and online distribution was illustrated to convince the sales staff of the multi-channel strategy. With the development of the store sponsorship concept, the employees at the service headquarters and the Holding have the opportunity of getting to know the sales department better. Following the positive feedback in the first year, this concept has now been permanently established. The store participation of key executives would comprise at least four days per year. Additional information in this respect can be found in the “Human Resources” section on pages 18 to 25 of this Annual Report. Research and development In a retail group such as the DOUGLAS Group, there are no research and development expenses in the traditional sense. Nevertheless, consumption trends are continually monitored and all relevant markets are intensively analyzed. The knowledge gained therefrom helps in the selection of new and attractive products and in the developing of new platforms and distribution channels. Even the designing of modern store concepts and the development of marketing instruments and IT systems profit from the ongoing market analysis. It also assures the monitoring and identification of important new developments such as communication via the so-called Social Media, so that they can be profitably implemented for the DOUGLAS Group. Procurement and logistics Douglas Thalia Christ AC Hussel Holding/ Services 14,834 5,186 2,173 +1.5% +0.7% +7.3% −0.8% +4.0% +3.8% Procurements and logistics play a decisive role for a retail group operating at an international level. With the increasing relevance of online distribution, the DOUGLAS Group 751 1,141 570 Management Report Key results Business activities and operating environment Net assets, financial position and result of operations DOUGLAS HOLDING AG Subsequent events Control system and success factors Opportunities and risks situation Statutory disclosures Forecast and overall assessment 18–25 51
Page 1 and 2:
Annual Report 2009/10 Excellence in
Page 3 and 4: U3 DOUGLAS HOLDING AG 1 DOUGLAS HOL
Page 5 and 6: MISSION STATEMENT DOUGLAS HOLDING A
Page 7 and 8: to within the foreseeable future. A
Page 9 and 10: CORPORATE GOVERNANCE DOUGLAS HOLDIN
Page 11 and 12: 167 168 component of the Chief Huma
Page 13 and 14: Dr. Dr. h.c. Jörn Kreke, Chairman
Page 15 and 16: Fig. 3 Fig. 2 · Maximum and minimu
Page 17 and 18: from Executive Board speeches as we
Page 19 and 20: IMPRESSIONS October 2009 With Dougl
Page 21 and 22: June 2010 Hussel pilots a “new wo
Page 23 and 24: DOUGLAS HOLDING AG 19 Mission State
Page 25 and 26: Valued for their reading tips: Mari
Page 27 and 28: seminar at the Zeppelin University
Page 29 and 30: DOUGLAS HOLDING AG Mission Statemen
Page 31 and 32: MANAGEMENT REPORT CONTENTS Manageme
Page 33 and 34: KEY RESULTS IN THE 2009/10 FISCAL Y
Page 35 and 36: All five retailing divisions combin
Page 37 and 38: Fig. 1 · Targets and results Targe
Page 39 and 40: ahead at the positive economic outl
Page 41 and 42: In the fiscal year, Douglas opened
Page 43 and 44: The operating earnings in the Books
Page 45 and 46: Fig. 6 · Development of capital ex
Page 47 and 48: lining, which had a liquidity effec
Page 49 and 50: DOUGLAS HOLDING AG The DOUGLAS HOLD
Page 51 and 52: INTERNAL CONTROL SYSTEM AND KEY SUC
Page 53: DVA calculation Based on the premis
Page 57 and 58: development of highly qualified emp
Page 59 and 60: Corporate responsibility is also an
Page 61 and 62: “La Margerita” in organic quali
Page 63 and 64: Information technology opportunitie
Page 65 and 66: The data transferred is then automa
Page 67 and 68: The existing risks both as individu
Page 69 and 70: in most industrial countries, the s
Page 71 and 72: cialty retail stores forms a solid
Page 73 and 74: By relaunching its online presentat
Page 75 and 76: DIVISIONS CONTENTS 72 Perfumeries 8
Page 77 and 78: THE WORLD OF BEAUTY First, the good
Page 79 and 80: Nowy Sa˛ cz, Poland, October 2009
Page 81 and 82: Natalia Wörner and Michael Michals
Page 83 and 84: showpiece: “Hilfiger Woman” - a
Page 85 and 86: Stress-free shopping: Douglas - her
Page 87 and 88: Established the first-ever Douglas
Page 89 and 90: Austria’s first multi-channel boo
Page 91 and 92: Divisions Thalia · Books 87 Tradit
Page 93 and 94: Thalia in Figures employees, who su
Page 95 and 96: Capturing the imaginations of Dortm
Page 97 and 98: Pear shape Round brilliant shape Pr
Page 99 and 100: Nadia Iram Christ, Frankfurt (Zeil)
Page 101 and 102: Christ: more than ever before. Empl
Page 103 and 104: FASHIONS, TOP BRANDS, MULTI-CHANNEL
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Whether her style is casual or clas
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merchandising program, enabling App
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During the 2009/10 financial year H
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Impeccably showcased products: the
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Hussel in Figures Aschaffenburg is
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FINANCIAL STATEMENTS CONTENTS 112 F
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CONSOLIDATED INCOME STATEMENT for t
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STATEMENT OF CHANGES IN GROUP EQUIT
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Financial statements Facts & figure
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NOTES TO THE CONSOLIDATED FINANCIAL
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IAS 23 “Borrowing Costs” In Mar
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public sector have been expanded. T
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Group of Consolidated Companies Ger
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At-equity consolidation 09/30/2010
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5. Accounting and valuation princip
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Financial assets denominated in a f
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issued for speculative purposes. De
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NOTES TO THE INCOME STATEMENT 6. Sa
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11. Investment result In the previo
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15. Income taxes Income taxes 2009/
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Intangible assets - Fiscal year 200
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Property, plant and equipment - Fis
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Finance leases As of the balance sh
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Carrying amounts of goodwill and in
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accounts. The write-downs on trade
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23. Assets and liabilities held for
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of the fiscal year, which are then
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essary information, this plan is qu
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Statement of changes in current pro
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Cash and cash equivalents are compr
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31. Fair Values of financial instru
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All financial liabilities existing
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Financial liabilities In the 2006/0
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There were no receivables from rela
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Expenses for auditor’s fees In ac
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Significant shareholdings No. Name
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Prof. Dr. Mark Wössner Entrepreneu
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FURTHER INFORMATION CONTENTS 176 Ov
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Overview of the past several years
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Fair Value Amount at which an asset
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www.douglas.de www.thalia.de · www
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Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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