Clothing & ShoesLuxury Goods

Hugo Boss reports a strong final quarter for 2017

Hugo Boss has “achieved its goals for 2017” following strong sales in its final quarter, it has reported in its preliminary results for the year.

Sales for the luxury retailer were up by 5% to £652m in the final quarter, raising its full year sales by 3% to £2.4bn.

The group’s own online business grew significantly with a double-digit percentage growth rate at 42%, while sales in the wholesale channel declined as expected.

No figures were given for Hugo Boss’s profitability for 2017, however in the report it is stated that EBITDA is expected to be level with last year, which was £437m.

Mark Langer, chief executive of Hugo Boss, said: “We achieved our goals for 2017. The final quarter was particularly pleasing. The strong development in own retail shows that we are on the right path with the changes we are making to our collections and stores.

“With the current Spring/Summer collection which has just been launched in the stores, the realignment of BOSS and HUGO is now fully visible for the first time. We strive to carry the momentum gained in the last months into 2018. Our online business is now on track, too, and will make a sustainable contribution toward the growth of the company.”  

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