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Hugo Boss Q2 sales and profit up

German fashion brand Hugo Boss has posted a 2% jump in currency-adjusted sales for the second quarter of the year.

Hugo boss

Hugo boss

Overall sales grew 2.2% to €636m (£570m), while net income climbed to €57.6m (£51.5), up from €11.1m (£9.9m) during the same period last year. Gross profit increased by 2.4% to €430.3m (£385m).

However, EBITDA before special items remained static at €107.7m (£96.3m).

Hugo Boss said that the “negative currency effects” associated with the drop in value of sterling has “offset” the “slight increase in its gross profit margin”.

The fashion house said its UK sales increased by 11% on the back of “solid local demand and robust business with tourists”.

Meanwhile, its US sales increased by 2% and sales in China grew by 14%.

Chief executive Mark Langer said its results were boosted by its restructuring plan: “Our strategic realignment is beginning to take effect. Business in the second quarter was encouraging. We made considerable headway in the United States and in online business in particular.

“We are reaffirming our full-year outlook and facing the future beyond this year with confidence. The new brand strategy has been very positively received by wholesale partners. Consequently, we have passed an important milestone in our strategic realignment.”

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