Hugo Boss sees higher sales, earnings after record 2013

March 13, 2014
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The Hugo Boss logo at a branch in Berlin/AFP
The Hugo Boss logo at a branch in Berlin/AFP
FRANKFURT, Mar 13 – German fashion house Hugo Boss Thursday unveiled record-high sales and earnings in 2013 and said it would improve on this performance this year despite a “challenging” economic environment.

Hugo Boss said group sales grew by 4.0 percent to 2.346 billion euros ($3.4 billion) last year and underlying profit, as measured by earnings before interest, depreciation and amortisation (EBITDA), rose by 7.0 percent to 564.7 million euros.

Net profit was up 7.0 percent at 329 million euros.

“In a challenging market environment, Hugo Boss reached record sales and earnings in 2013. And for 2014, management is targeting sales and earnings growth in the high single-digit percentages,” the firm said in its annual earnings statement.

“I am confident we will be able to increase our growth momentum compared with the previous year,” said chief executive Claus-Dietrich Lahrs.

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