Home / Knowledge / News / Fashion / Hugo Boss sales grow 6% in Q2FY18

Hugo Boss sales grow 6% in Q2FY18

04
Aug '18
Courtesy: Hugo Boss
Courtesy: Hugo Boss
The sales of German luxury fashion house Hugo Boss in the second quarter of fiscal 2018 have grown 6 per cent to €653 million. The sales from the group’s own online business soared by 47 per cent. In the wholesale business, sales picked up significantly, increasing by 10 per cent. The company registered robust sales growth in the reported quarter.

At €106 million, EBITDA before special items remained virtually unchanged compared to the prior-year period. Continued investment in product quality, digital transformation of the business model and negative currency effect has curbed the profit development.

EBIT was below the prior-year level, mainly due to the non-recurrence of other operating income recorded in the previous year. Following an improved financial result, the decline in the Group’s net income was lower as compared to EBIT.

At the beginning of July, Hugo presented its Spring/Summer 2019 collection at the Berlin Fashion Week. Titled 'Mixmasters', Hugo reflected Berlin’s eclectic street style and club scene with striking neon colours, lightweight fabrics and contrasting details.

The renovation of existing retail stores and the cross-channel integration and digitisation of the group’s own retail activities were the focus of investment activity in the second quarter.

Overall, Hugo Boss recorded currency-adjusted sales growth of 5 per cent in the first six months of fiscal year 2018. At €205 million, EBITDA before special items was unchanged over the prior year. On the basis of these results, Hugo Boss confirms its outlook for the full year. The group continues to expect currency-adjusted sales growth in the low to mid single-digit range. In addition, EBITDA before special items is expected to develop within a range of –2 to +2 per cent compared to the prior year.

"Our strategic realignment is taking effect. We are right on track. The sales growth in the second quarter speaks for itself: we achieved almost double-digit growth in Europe and were also able to continue our recovery in the challenging German market. Our collections are very well received at home and abroad. This is reflected both in the positive feedback from our wholesale partners and in the robust momentum of our retail business. The performance of our online store is particularly encouraging. I am therefore very confident that we will achieve our targets for the full year," said Mark Langer, CEO of Hugo Boss.  (RR)

 

Fibre2Fashion News Desk – India


Must ReadView All

New EU rules for a fairer online economy apply from Jul 12

E-commerce | On 11th Jul 2020

New EU rules for a fairer online economy apply from Jul 12

The European Commission recently published a set of resources to help ...

Pic: Inditex

Retail | On 11th Jul 2020

Inditex to invest €2.7 billion for 2020-2022 plan

Inditex, a Spanish fashion retailer, has announced that to accelerate ...

Pic: Shutterstock

E-commerce | On 11th Jul 2020

ING Bank launches fashion marketplace in Romania

ING Bank, the fourth-largest bank by assets in Romania, launched its...

Interviews View All

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Harsh Shah,

Harsh Shah

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

Anupam Arya,

Anupam Arya

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

Abhishek Ralli,

Abhishek Ralli

Founded in 1962 in Agra, Guide Footwear manufactures men’s footwear for...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

Leave your Comments


July 2020

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


Advanced Search