Hugo Boss net sales up by 9%, currency adjusted 12%
10 May '07
3 min read
In the first quarter of the current fiscal year, HUGO BOSS AG increased sales by 9% to EUR 500 million (Q1 2006: EUR 459 million). On a currency-adjusted basis the sales increase of the international fashion group amounted to 12%.
BOSS Womenswear performed particularly well, continuing the upward momentum of previous periods to increase sales by 42% to EUR 62 million (Q1 2006: EUR 44 million). Earnings before interest and taxes (EBIT) for this segment rose from EUR 4 million to EUR 10 million, with the EBIT margin improving accordingly to 16% (Q1 2006: 10%). Net income rose to EUR 7 million (Q1 2006: EUR 3 million).
Also contributing to the upward sales trend of the HUGO BOSS Group were shoes and leather accessories, with a gain of 26% to EUR 58 million (Q1 2006: EUR 46 million), as well as the Group's own retail business, with an increase of 28% to EUR 52 million (Q1 2006: EUR 41 million).
Sales in Europe improved by a total of 11% to EUR 366 million in the first quarter of 2007 (Q1 2006: EUR 330 million). Sales in Germany increased by 7% to EUR 104 million (Q1 2006: EUR 97 million). HUGO BOSS thus once again far outperformed the relatively weak German fashion market.
On the American continents, sales had improved a total of 13% on a currency-adjusted basis by the end of the first quarter of fiscal 2007. The increase in the reporting currency amounted to 3% due to the weakening of the U.S. dollar against the euro. In the U.S., salesincreased 17% in local currency and 7% in euros to EUR 54 million (Q1 2006: EUR 51 million).
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