GERMANY: Hugo Boss confident on 2014 as sales climb
Hugo Boss says it is confident about the current year
Fashion business Hugo Boss says it is confident on the year ahead after booking an increase in fourth-quarter earnings and sales.
Sales in the three month period climbed 7% to EUR649m (US$880.8m) from EUR607m a year earlier. Adjusted for currency affects, sales were up 10%.
All regions and distribution channels contributed to the growth, particularly Europe, which recorded a double-digit increase. The group's own retail business also reported double-digit growth on the back of new store openings and a currency-adjusted increase in comp store sales of 3%.
Thanks to the increase in sales and a "significantly" improved gross margin, EBITDA was up 17% to EUR157m.
"Given the positive development of the closing quarter, we have reason to be confident about the current year," said CEO Claus-Dietrich Lahrs. "We have set ourselves the target to grow faster than last year and to outperform our industry."
Kepler analyst Jurgen Kolb said the numbers were in line with consensus and its expectations.
"We see no reason to change our estimates or rating. FY 2014 will be a year of opex increases, requiring an even stronger focus on LFL growth to leverage costs. We remain sceptical about whether the company will be able to deliver positive surprises."
Apparel & Non-Apparel Manufacturing in Europe industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The prof...
Apparel & Non-Apparel Manufacturing in Germany industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The pro...
Virtual fit specialists Fits.me and Clothes Horse have signed a merger deal that will create the world's largest, fit-focused, virtual fitting room solutions provider....
This report provides information, analysis and valuable insight on developments relating to the global apparel industry....
This report analyzes the worldwide markets for Women's and Girls' Clothing in US$ Million by the following Product Segments: Women's and Girls' Dresses, Women's and Girls' Suits & Coats, Women's and G...
- George at Asda on responsible retail journey
- New American Apparel CEO sees solid platform
- Outlook 2015: What's happening with sourcing?
- Connected sourcing networks ease payment problems
- Outlook 2015: Challenges and opportunities
- Talks underway on Myanmar minimum wage
- Fashion brands facing strong dollar “headwind”
- Tommy Hilfiger digital showroom to reduce samples
- EU exploring responsible garment supply chains
- C&A to boost opportunities for women in India
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- E-Textiles: Electronic Textiles 2014-2024
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead