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 raises full-year sales forecast after strong third quarter

Premium brand Hugo Boss Group has increased its full-year sales forecast to 5%, the top end of expectations, after reporting double-digit sales growth in Europe, America and Asia in the third quarter suggesting a recovery in the luxury sector.

Hugo Boss has previously said it expected a sales increase of 3% to 5% over the year, while operating income is expected to rise by 20% due to improved profit margin.

Over the three months to September 30, the group saw net income rise 79% to €92.2m (£80.3m), compared to €51.5m (£44.8m) for the same period last year. EBITDA, before special items, was up by 42%.

Sales rose by 14% on a currency-neutral basis (19% in Euro terms) to €583m (£507.8m), with Europe up by 12%, America up by 13% and a 27% rise in Asia-Pacific.  

Retail sales, including outlets and online, increased by 36% after currency adjustment, driven by a strong performance by its joint venture with the Rainbow Group in China. Wholesale revenues were up by 6% compared to the same quarter last year on the same basis.

Claus-Dietrich Lahrs, chief executive and chairman of the managing board at Hugo Boss, said: “Our growth in the third quarter is broad-based, with all regions, distribution channels and brands contributing to it. The results show that we have chosen the right path to achieve our goals for 2015.”

Group sales were up 2% on a currency neutral basis for the first nine months of the year, while revenue increase by 6% to €1.3bn (£1.1bn). Over the nine months, Europe posted a currency-neutral decline of 2%, although sales were up by 11% and 16% in America and Asia-Pacific respectively. Wholesale revenues were down by 8% but retail sales rose by 27%.

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.