German-based beauty retailer Douglas has suspended trading at its stores in most of its European markets due to the spread of COVID-19, in accordance with the requirements of national governments and regional authorities.
The retailer’s e-commerce and mail order business remain operational.
Currently, Douglas says it is still too early to quantify the economic impact of the virus outbreak. The company underlines that it has robust cash reserves.
Douglas’ management has initiated what it calls extensive operational cost measures to mitigate the impact on earnings. It added that e-commerce is helping to cushion part of the impact of suspended store trading.
The company is currently considering participation in the announced national and regional aid programs for affected businesses until normal business operations can resume.