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.”