Home / Knowledge / News / Fashion / Driven by growth in all regions Hugo Boss Q1 sales up 9%
Driven by growth in all regions Hugo Boss Q1 sales up 9%
09
May '15
Driven by growth in all regions, sales in the first quarter ending March 31, 2015 at German fashion marketer and retailer Hugo Boss were up 9 per cent over the previous year’s first quarter.

For the first quarter of 2015, revenue at Hugo Boss Group totaled to €668 million, up 9 per cent from €613 million in the prior year first quarter.

According to a Hugo Boss press release, exchange rate effects, above all the appreciation of the US dollar, positively influenced growth in euro terms.

After currency adjustment, Hugo Boss reported a 3 per cent year on year hike in first quarter of 2015 sales, underpinned by performance across all regions.

“Sales in Europe rose by 3 per cent and the core markets in UK and Germany, where Hugo Boss clearly decoupled from overall market development, yielded above-average growth,” it said.

In the Americas, sales were up 2 per cent year over year in local currencies in the reporting quarter, while the US market expanded by 4 per cent also from a year ago quarter.

Adjusted for currency effects, sales in Asia Pacific region were up 1 per cent, in which sales fell 3 per cent in China after currency adjustment, while Australia and Japan in particular performed well.

The Group's gross margin rose by 10 basis points to 65.5 per cent in the quarter under review from 65.4 per cent in 2014.

“Positive effects from the disproportionately strong growth of the Group's own retail business were partially offset by negative inventory valuation effects,” Hugo Boss explained.

Operating expense development was negatively affected by currency translation effects, retail cost hikes related to expansion of its own retail network in particular as well as higher marketing expenses.

Accordingly, EBITDA before special items was stable compared with the prior year first quarter and touched €132 million.

According to Hugo Boss, at 19.7 per cent, the adjusted EBITDA margin was 170 basis points down on the prior year first quarter's figure.

Net working capital amounted to €566 million at the end of the first quarter of 2015, up 23 per cent over end of last year’s first quarter figure of €461 million.

“This primarily reflects a rise in inventories of 25 per cent in reporting terms and 12 per cent in currency-adjusted terms,” the German fashion goods marketer observed.

The Hugo Boss management expects sales and profit growth to accelerate in the further course of the year, underpinned in particular by its own retail business.

Against this backdrop, it reconfirmed its guidance that sales will grow at a mid-single-digit rate after currency adjustment in 2015, with all regions contributing to the achievement of this goal.

Hugo Boss expects further improvement in profit compared to the first quarter as the year progresses with positive effects expected in the second half of the year from strict inventory management. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Uzbekistan wants joint ventures with Hungarian textile firms

Textiles | On 20th Feb 2018

Uzbekistan wants joint ventures with Hungarian textile firms

Uzbekistan has offered Hungary to create joint ventures in the two...

Vietnam’s textile & garment exports up 10.68% in 2017

Textiles | On 20th Feb 2018

Vietnam’s textile & garment exports up 10.68% in 2017

Vietnam came very close to achieving its 2017 textile and garment...

Courtesy: Urban Outfitters

Apparel/Garments | On 20th Feb 2018

Urban Outfitters Q4 FY18 sales climb 5.7%

The net sales of Urban Outfitters, Inc., a leading lifestyle products ...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search