Luxury Goods

Hugo Boss reports ‘good start to 2018’ with Q1 sales growth

Hugo Boss has reported a “good start to 2018” in which it saw currency adjusted group sales up 5% to €650m (£572m).

Hugo Boss in the three months to 31 March achieved strong sales growth in online (43%), Asia(11%)  and Europe (4%). In Great Britain and the Benelux countries, it recorded sales growth of 12% and 7% respectively on a currency-adjusted basis.

Additionally sales in France rose by 2%, however said to be “reflecting a difficult market environment” sales in Germany declined by 5%.  

Net income reached €50m (£44m) up 3% from €48m (£42m) the previous year. EBITDA also saw a minor increase from €97m (£85m) to €99m (£87m) attributed to a decline in the group’s operating expenses.

Mark Langer, CEO of Hugo Boss AG said: “We made a good start to 2018. Our growth is broad-based. The strong increase in the group’s own retail business shows that our new collections are being well received by customers. Our investments in the quality of our products and the desirability of our brands are therefore paying off.

“Also, the substantial progress achieved in the online business is encouraging. This positive performance strengthens our confidence that we will achieve our sales and earnings targets for the full year.”

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