Hugo Boss has increased its full year sales and earnings forecast after a stronger than expected third quarter performance.
In its preliminary results for the three months to September 30, Hugo Boss reported a 19% (14% currency adjusted) increase in group sales to €538m (£472m) compared to €450m (£395m) for the same period last year. The increase was driven by a rise in same store sales, retail expansion and the first-time consolidation of its Chinese joint venture with Rainbow Group.
EBITDA, before exceptional items, rose 42% to €150m (£132m), compared to €105m (£92.1m) in 2009.
The German company previously expected net sales to rise by 3% to 5% on currency adjusted basis for the period but has now increased that expectation to 5%, while it predicts a 20% increased in EBITDA, previously forecast for an increase of between 10% to 12%.
Hugo Boss will release more detailed financial results for the quarter during its presentation for the first nine months of the fiscal year on November 2.