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Hugo Boss records acceleration in sales growth in Q4FY19

25
Jan '19
Courtesy: Hugo Boss
Courtesy: Hugo Boss
Hugo Boss has witnessed acceleration in the sales growth during the fourth quarter of fiscal 2018. On a preliminary basis, group sales grew by 7 per cent in the reporting currency (6 per cent in local currencies) to €783 million (Q4 2017: €735 million). Both the group's own retail business and the wholesale business recorded significant growth.

Adjusted for currency effects, sales in the group's own retail business grew 4 per cent both on a comp store basis and in total, despite the prior year's high comparison basis. Asia Pacific was once again the fastest growing region for Hugo Boss. In particular, in China the positive trend continued. Here, the company achieved high single-digit currency-adjusted comp store sales growth also in the fourth quarter. Currency-adjusted comparable store sales in the group's own retail business in Europe and in the Americas grew at a mid-single digit and low single digit rate, respectively.

The group's own online business grew by 37 per cent currency-adjusted in the fourth quarter, thus at a solid double-digit rate for the fifth consecutive quarter. Sales in the wholesale business increased 15 per cent in local currencies. Besides double-digit growth in the replenishment business, which allows Hugo Boss to react to short-term demand from wholesale partners, delivery shifts led to sales increases compared to the prior year.

"We look back on a successful 2018. We increased our pace of growth and achieved our full-year targets, supported by a very good fourth quarter," said Mark Langer, chief executive officer of Hugo Boss. "We are convinced to grow sustainably and profitably in 2019 and beyond. The new year will entirely be focused on the execution of our business plan until 2022. We will personalise our offerings even more and accelerate important business processes. In doing so, we drive brand desirability and set an important milestone for achieving our mid-term targets." (RR)

Fibre2Fashion News Desk – India


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