Hugo Boss Q4 sales increase 10 percent

Friday, 07 February 2014
REPORT_ In fiscal year 2013, the Hugo Boss Group increased sales and profit, reaching the targets it had set itself. Adjusted for currency effects, the fourth quarter made a substantial contribution to this development with double-digit sales growth and a significant improvement in earnings. In the fourth quarter of 2013, company generated sales growth of 10 percent based on preliminary figures and adjusted for currency effects. In the reporting currency, this constitutes an increase of 7 percent to 649 million euros (881.9 million dollars).

Looking at the full year 2013, consolidated sales based on preliminary figures and adjusted for currency effects increased by 6 percent. In the reporting currency, this corresponds to an increase of 4 percent to 2,432 million euros (3,305 million dollars) and EBITDA before special items increased by 7 percent.

“We have made good progress over the year just ended in our efforts to scale up our own retail business and strengthen the premium and luxury claim of our core Boss brand. We are going to rigorously drive forward this realignment towards end customers,” opined Claus-Dietrich Lahrs, CEO of Hugo Boss, adding “Given the positive development of the closing quarter, we have reason to be confident about the current year.”

In the fourth quarter, adjusted for currency effects, all regions and distribution channels contributed to the growth, particularly Europe, which saw a double-digit increase. The Metzingen headquartered group's own retail business also reported double-digit growth on the back of new store openings and a currency-adjusted increase in comp store sales of 3 percent. Thanks to the increase in sales and a significantly improved gross margin, EBITDA before special items rose by 17 percent.

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