Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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70 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 Given the improvement in consumer confidence, the Group’s sales proved sound at the start of the new 2010/11 fiscal year. During the first quarter of the 2010/11 fiscal year – which includes the important Christmas business – sales were up about 4 percent. Like-for-like, Group sales were almost 2 percent higher than in the previous year’s quarter. The German Retail Association HDE is projecting an overall increase in turnover of 1.5 percent for 2010. While yet to issue a concrete forecast for 2011, it is expecting a steady development. Similarly, the various industries had yet to publish specific projections for the new year by the start of 2011. However, the mood in the perfumery market appears to be brightening, according to a fall 2010 survey by the German Perfumeries Association, with the trend for 2011 holding steady. Sales at Germany’s stationary bookstores were down approximately 3 percent during 2010, according to the industry’s BuchReport magazine. No estimate has been provided as yet for 2011. The German Federation of Jewelry and Watch Retailers is anticipating that sales will have increased by some 6 percent in 2010, although this is largely due to higher material costs. Industry analysts project that the watch and jewelry market should develop steadily during 2011, provided the general economic climate does not change significantly. According to the magazine Textilwirtschaft, the German fashion industry posted a 3 to 4 percent gain in sales during 2010; prospects for 2011 are optimistic. The market research institute IRI concluded that confectionery segment sales had declined slightly as at the end of October 2010; the industry’s professional associations have yet to venture forecasts for 2011. From today’s standpoint, the Executive Board predicts a sales increase of between 2 and 4 percent and earnings before taxes of about 140 million EUR. For purposes of promoting further growth of the DOUGLAS Group, a capital expenditure volume of about 125 million EUR is available. The shareholder-friendly dividend policy will be continued. Therefore, a payout ratio of about half of consolidated net income is the future target as well. The forecast takes into account all those events known at the time of preparing the financial statements which might impact the business developments of the DOUGLAS Group. Hagen, January 2011 DOUGLAS HOLDING AG The Executive Board Dr. Henning Kreke Dr. Burkhard Bamberger Anke Giesen
DIVISIONS CONTENTS 72 Perfumeries 84 Books 92 Jewelry 98 Fashion 104 Confectionery 110 Services Geschäftsbereiche Douglas · Parfümerien Thalia · Bücher Christ · Schmuck AppelrathCüpper · Mode Hussel · Süßwaren Dienstleistungen und Servicebereiche 1 Divisions
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Annual Report 2009/10 Excellence in
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U3 DOUGLAS HOLDING AG 1 DOUGLAS HOL
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MISSION STATEMENT DOUGLAS HOLDING A
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to within the foreseeable future. A
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CORPORATE GOVERNANCE DOUGLAS HOLDIN
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167 168 component of the Chief Huma
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Dr. Dr. h.c. Jörn Kreke, Chairman
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Fig. 3 Fig. 2 · Maximum and minimu
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from Executive Board speeches as we
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IMPRESSIONS October 2009 With Dougl
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June 2010 Hussel pilots a “new wo
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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 and 54: DVA calculation Based on the premis
Page 55 and 56: Fig. 14 · Employees by division Ch
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: By relaunching its online presentat
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
Page 105 and 106: Whether her style is casual or clas
Page 107 and 108: merchandising program, enabling App
Page 109 and 110: During the 2009/10 financial year H
Page 111 and 112: Impeccably showcased products: the
Page 113 and 114: Hussel in Figures Aschaffenburg is
Page 115 and 116: FINANCIAL STATEMENTS CONTENTS 112 F
Page 117 and 118: CONSOLIDATED INCOME STATEMENT for t
Page 119 and 120: STATEMENT OF CHANGES IN GROUP EQUIT
Page 121 and 122: Financial statements Facts & figure
Page 123 and 124: 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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