GERMANY: Hugo Boss Q1 earnings fall 5%
First quarter profit at German fashion label Hugo Boss has fallen by 5%, despite a rise in sales.
Earnings before Interest and Tax (EBIT) came to EUR94m (US$146.1m), down from EUR99m in the corresponding period last year.
The company, part of the Valentino Fashion Group, increased total sales by 2% to EUR510m in the quarter, but said that sales in Germany slipped to EUR99m from EUR104m.
Hugo Boss said that this was primarily attributable to changes in ordering patterns in Germany and the result of the "sustained length of the winter season".
It added that the domestic decline was overcompensated by an increase in sales in other countries.
Elsewhere in Europe there was a quarterly sales increase of 2% to EUR265m, a statement said.
On the American continent, currency adjusted sales rose by 11% in the first quarter of 2008.
In the Asian region/other regions, Hugo Boss said it had increased sales by 21% to EUR58m.
The group's first quarter profits from licensing were up by 16% to EUR12m. Its own retail business opened 11 new stores, bringing it to a total of 298.
In February, Hugo Boss and its chief executive Dr Bruno Sälzer parted company, blaming differences of opinion on corporate strategy
The company said it expects a currency-adjusted growth in sales of 6-8% in the ongoing trading period, and that earnings before Interest and Tax (EBIT) should increase by 8-10%.
While the idea of using nano-particles to enable textiles to repel dirt and 'self-clean' is not new, the uses to which this technology is being applied and enhanced are increasing almost daily. By Mar...
Turkish clothing and textile manufacturers are ramping up production of mid- to high-end garments for the European market in the face of strong competition from China and other apparel producing count...
German men's wear manufacturer Ahlers AG has launched a major restructuring programme that is expected to generate annual savings of between EUR7-9m a year from the second half of 2009....
Valentino creative director Alessandra Facchinetti has been sacked from her post amid a bitter war of words with the fashion label's founder, Valentino Garavani....
Luxury women's fashion brand Escada AG today (23 September) said it expects its full-year loss to be in line with last year's results after third quarter sales fell 14.3%....
Hugo Boss is reportedly in talks with prospective retail partners in India to help it expand in the country....
Eric Jennings has been appointed as vice president, fashion director, men's, home, food and gifts at retailer Saks Fifth Avenue....
German fashion firm Hugo Boss has confirmed to just-style that its US boss Tony Lucia is leaving the company for personal reasons, effective tomorrow (15 August)....
- Nike reaffirms US production commitment
- M&S to launch supply chain human rights policy
- Levi Strauss raises the bar on sustainability
- VF pushes ahead on chemicals management
- Gap and H&M back Myanmar path to labour reform
- Myanmar minimum wage set at US$3.2 per day
- China cotton stockpile auction may shake up market
- Far Eastern to invest $323m in Vietnam textile hub
- C&A to add "accurate fit" label to garments
- US retail landscape "mediocre" over next 5 years