Home / Knowledge / News / Fashion / HUGO BOSS defends its position in difficult market environment
HUGO BOSS defends its position in difficult market environment
27
Mar '09
HUGO BOSS AG in its balance sheet press conference in Metzingen published the financial figures for the 2008 fiscal year. The fashion group increased sales by 3% (currency-adjusted by 6%) to EUR 1,686 million (2007: EUR 1,632 million).

In doing so, sales in the previous fiscal year rose in Europe by 2% (currency-adjusted by 3%) to EUR 1,170 million (2007: EUR 1,151 million). In a tense German market strongly influenced by the general economic situation, HUGO BOSS was able to achieve sales declining moderately only by 1% to EUR 357 million (2007: EUR 361 million).

On the American continent, HUGO BOSS gained 3% over the year in the reporting currency (on a currency-adjusted basis the upturn was as high as 10%), generating sales of EUR 307 million (2007: EUR 298 million). Despite the turbulence on the US market, sales in the USA moved up by 12% in local currency and by 4% in euro.

In the Asia/Pacific region, sales in the reporting year rose by 21% (currency-adjusted by 25%) to EUR 162 million (2007: EUR 134 million). Once again, HUGO BOSS developed particularly well in China, improving sales by 24% (currency-adjusted by 32%).

The total number of own retail locations was increased by 43 stores, reaching 330 to the end of the last fiscal year (2007: 287). Sales via the Group's own retail stores improved by 12% to EUR 269 million (2007: EUR 239 million), with the share in total sales rising to 16%.

Overall, there was a good operating development in the 2008 fiscal year. Adjusted for one-time effects, EBIT increased by 9% (2008: EUR 226 million, 2007: EUR 208 million), while adjusted EBITDA rose by 4% (2008: EUR 287 million, 2007: EUR 275 million).

As a result of the one-time effects, which resulted from the changes in the Management Board and the strategic reorientation of the Group in the 2008 fiscal year, HUGO BOSS achieved an EBIT of EUR 190 million (2007: EUR 220 million) As a result of the one-time effects mentioned, Group earnings declined by 27% to EUR 112 million (2007: EUR 154 million).

On the other hand, operating cash flow increased considerably, rising by 50% to EUR 165 million. At the same time, at a level of EUR 117 million, HUGO BOOS made the highest investments in its history.

In order to counter the current difficult global economic situation from a position of strength, the Managing Board of HUGO BOSS AG has implemented an extensive program to optimize processes and the cost structure.

HUGO BOSS AG


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth 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
70.3%
No
12.9%
Skip
16.8%

Total Votes: 101

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
63.4%
No
29.7%
Skip
6.9%

Total Votes: 101

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
88.1%
No
8.9%
Skip
3.0%

Total Votes: 101

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
83.2%
No
7.9%
Skip
8.9%

Total Votes: 101


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