Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Hugo Boss to open more stores as growth continues

Hugo Boss is to open 50 stores and is forecasting double-digit growth for its retail business in 2014, following strong performance from its European stores in the first quarter.

The group grew sales by 3% to €613m (£503.2m), up from €594m (£487.6m) for the three months to the end of March.

Europe contributed in particular towards its performance, with the region posting currency-adjusted sales growth of 8%. Revenues declined by 2% in the US. In Asia, sales growth accelerated to 7% in local currencies, due to strong development in Japan and Australia.

Hugo Boss chief executive Claus-Dietrich Lahrs said: “Thanks to a strong development in Europe, we were able to compensate for the challenging market environment, above all in North America and China. The investments in brand, distribution and logistics negatively affected our earnings development in the period, but will support sales and profit growth for the rest of the year and beyond.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.