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Sales surge sets Hugo Boss up for strong full year

Hugo Boss saw sales in Europe, Middle East and Africa (EMEA) rise by 13% in the three months to June 30, tipping the business into positive territory for the first half of the year.

Across all regions the design giant saw sales increase 3% to €1.13bn for the first half, and up 10% to €532m in the second quarter.

Gross profit rose 7% to €717m for the six month period, with EBITDA up 2% to €230m.

Within EMEA, the 13% sales uplift in the second quarter, equivalent to €302m, saw first half sales grow 2% to €668m. The Americas was the strongest performing region in the first half, up 6% to €262m.

As a result of the second quarter performance, Hugo Boss management said it was confirming its targets for the full year, with both sales and operating profit expected to grow by high single digits.

Chief executive ClausDietrich Lahrs said: “In an economic environment, which has not become any easier in all relevant sales markets, we continued to grow in the first half of the year.

“The investments in our brands as well as our collections will be the cornerstone for a successful second half year. We are therefore confirming our sales and earnings targets for 2013.”

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