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Hugo Boss hits results targets

Hugo Boss has achieved its targets for its 2018 financial year after reporting a 2% rise in sales to €2.79bn (£2.39bn). 

On a currency-adjusted basis, the increase was 4% for the full year up to 31 December. 

In Europe, currency-adjusted sales grew by 4%, driven by double-digit growth in Great Britain. The Americas also recorded a currency-adjusted sales increase of 4%, mainly as a result of mid-single-digit growth in the US.

Sales growth in Asia-Pacific benefited from high single-digit growth in the Chinese market. Adjusted for currency effects, sales in Asia-Pacific grew 7%.

EBITDA before special items grew to €489m (£419m) from €491m (£421m) in 2017. 

The Boss sub-brand achieved currency-adjusted sales growth of 6%, and benefited from high single-digit growth in businesswear and casualwear. 

Despite strong double-digit growth in casualwear for the Hugo brand, it recorded an overall sales decrease of 4%.

Meanwhile, the number of own freestanding retail stores increased by three in 2018, to 442. 

Thirteen newly-opened Boss stores, mainly in Europe and Mainland China, were offset by 22 closures of Boss stores with expiring leases.

“2018 was a good year for Hugo Boss,” said Hugo Boss chief executive Mark Langer. “2019 will be an even better year for our company. The current year will be all about the execution of our Business Plan 2022. With the focus clearly set on our strategic priorities, we are ensuring profitable growth in 2019 and beyond. Strong momentum in our own online business and in Asia will make a significant contribution this year.”

 

 

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