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Hugo Boss fourth-quarter sales rise 7%

Hugo Boss has forecast high single-digit growth in sales and earnings this year, as the premium brand reported that Britain had enjoyed double-digit growth in the last quarter of 2013.

Overall sales increased by 7% to €649m (£542m) in the fourth quarter of last year, with Hugo Boss highlighting Europe in particular as contributing to this with 13% growth adjusted for currency effects.

EBITDA before special items increased by 17% to €157m (£131m), up from €134m (£112m) during the same period the year before.

Hugo Boss said wholesale revenues adjusted for currency effects were up 1% year on year, while sales in the group’s own retail business rose 17%, including factory outlets and its ecommerce operation.

The retailer and brand said that despite operating in a challenging environment, the company saw sales and earnings reach new record levels last year.

Management issued a confident outlook, with plans for high single-digit growth in sales in 2014 adjusted for currency effects. The company said that all regions are expected to contribute to this target, with retail leading the growth while the wholesale channel is expected to remain broadly stable.

EBITDA before special items is forecast to grow at a high single-digit rate.

Hugo Boss chief executive Claus-Dietrich Lahrs said: “We have continued writing the success story that is Hugo Boss over the past fiscal year. We have been able to further enhance the quality of our brand presence. This year and beyond, we will profit from the greater strength and global reach of the Boss brand. I am confident that we will accelerate our rate of growth compared to the prior year.”

 



Readers' comments (2)

  • Hugo Boss performed well in the run up to Xmas owing to a good range, excellent visual merchandising and nice subtle innovation. They also avoided both heavy discounting and decorating their stores with 'sales' signage.

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  • Pity they're no longer interested in independents.

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