GERMANY: Hugo Boss forecasts faster growth in 2014
- Q4 profit up 7% to EUR333.4m versus EUR310.6m
- Sales rise 4% to EUR2.43bn from EUR2.35bn
- Company aims to grow faster in 2014
Europe was the fastest growing region for Hugo Boss in 2013
German fashion business Hugo Boss has said it expects to grow at a faster pace this year after reporting record earnings and sales for 2013.
Sales during the year were driven by double-digit growth in Great Britain and France. Europe as a whole was the fastest growing region, with sales up 7% after currency adjustments.
In the Americas, revenues adjusted for currency effects increased by 6%. Thanks to the expansion of the group's own retail business, Asia reported sales growth of 4% after currency adjustments.
Group-wide adjusted wholesale revenues, however, declined 6% during the year.
"We have continued writing the success story that is Hugo Boss over the past fiscal year," said CEO Claus-Dietrich Lahrs.
"We have been able to further enhance the quality of our brand presence. This year and beyond, we will profit from the greater strength and global reach of the Boss brand. I am confident that we will accelerate our rate of growth compared to the prior year."
For 2014, the company expects high single-digit in adjusted sales, with all regions expected to contribute to the target. Double-digit growth is forecast for its own retail business, while the wholesale channels is likely to remain stable.
EBITDA is also forecast to increase at a high single-digit rate. Hugo Boss also said it expects to generate sales of EUR3bn (US$4.2m) in 2015.
Apparel & Non-Apparel Manufacturing in Europe industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The prof...
Apparel & Non-Apparel Manufacturing in Germany industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The pro...
This report provides information, analysis and valuable insight on developments relating to the global apparel industry....
This report analyzes the worldwide markets for Women's and Girls' Clothing in US$ Million by the following Product Segments: Women's and Girls' Dresses, Women's and Girls' Suits & Coats, Women's and G...
- DENIM DAYS: Jeans innovation bursting at the seams
- How will TPP emerge from fast-track trade bill?
- Adidas pushing self-governance for suppliers
- Rana Plaza two years on: Challenges and concerns
- US fashion industry applauds trade bills package
- Under Armour hailed "next global athletic company"
- Myanmar garment workers strike deal
- Orta and Garmon launch denim chemical screening
- Gap’s woes “not so easy to fix”
- Wal-Mart simplifies management structure