• Q1 net income up 14% to EUR95.2m
  • Operating profit up 13%
  • Sales up 13% to EUR606.8m

German fashion house Hugo Boss today (26 April) booked a 14% hike in first-quarter profit, driven by growth in all regions and distribution channels.

Net income climbed to EUR95.2m (US$126m), while sales rose 13% to EUR606.8m. Revenues rose 9% in Europe, helped by "substantial" increases in the UK and Germany, while the US helped the Americas to a currency-adjusted increase of 15%. Double-digit growth in China led to a 9% rise in sales in Asia.

Wholesale revenues were up 1% year-on-year, and retail sales increased 27%. On a comparable store basis, sales rose 11%.

"We had a good start to the year again", said Claus-Dietrich Lahrs, chairman of the managing board of Hugo Boss. "The results for the first quarter show that we are fully on track to achieve our ambitious medium-term targets."

The company also confirmed its full-year outlook, expecting sales to rise by up to 10% on a currency-neutral basis. It also aims to open some 50 new stores.