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Negative currency effects drive down Hugo Boss Q3 sales
Nov '16
Driven by negative currency effects, revenues at German luxury goods and premium fashion marketer Hugo Boss Group dropped 6 per cent to €703 million in the three months ended September 30, 2016, as against €744 million in the year ago quarter. Of this, European region sales fell 2 percent, while they grew in the United Kingdom by 5 per cent.

The group's gross profit margin in the third quarter of 2016 rose 20 basis points to 64.7 per cent compared to 64.5 per cent.

Driven by lower sales, EBITDA before special items declined 14 per cent to €145 million in the reporting quarter as against €168 million in the prior year's third quarter.

Resultantly, adjusted operating margin decreased 200 basis points to 20.6 per cent in the quarter under review as against 22.6 per cent in the third quarter of 2015.

Hugo Boss Group's net income decreased 9 per cent to €81 million compared to €89 million in the previous year's corresponding quarter. (AR)

Fibre2Fashion News Desk – India

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