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HUGO BOSS welcomes Asian/Other region developments
30 Apr '08
3 min read
It was also possible to achieve disproportionately high sales in BOSS womenswear and in the field of shoes and leather accessories by comparison with the Group's total sales in the first quarter of the current fiscal year.
The Group's own retail business exhibited a positive development, contributing further to the additional growth over the regions, with 11 new stores bringing the quantity of BOSS's own stores to a total of 298.
Upon conclusion of the first three months of 2008, Earnings before Interest and Tax (EBIT) came to EUR 94 million (Q1 2007: EUR 99 million) which is 5% less than the figure for the corresponding period in the previous year.
This result becomes a positive development with a 7% increase after correction according to the special effect produced by the management changes in the first quarter of 2008.
Cash-flow, under the influence of the special effect, declined in the result for the first three months of the current fiscal year, by 5% to EUR 79 million (Q1 2007: EUR 83 million). Free cashflow, at EUR 33 million (Q1 2007: EUR -3 million), was markedly above the previous year's figure.
"Even at the beginning of 2008, HUGO BOSS was able to continue its successful path despite a challenging marketplace environment," commented Joachim Reinhardt, CFO of HUGO BOSS AG.
"For the ongoing trading period, we anticipate a currency-adjusted growth in sales of 6-8%. Earnings before Interest and Tax (EBIT) should increase by 8-10% before taking account of special effects. Accordingly we are able to confirm our previous outlook for 2008 as a whole."
The Group's own retail business exhibited a positive development, contributing further to the additional growth over the regions, with 11 new stores bringing the quantity of BOSS's own stores to a total of 298.
Upon conclusion of the first three months of 2008, Earnings before Interest and Tax (EBIT) came to EUR 94 million (Q1 2007: EUR 99 million) which is 5% less than the figure for the corresponding period in the previous year.
This result becomes a positive development with a 7% increase after correction according to the special effect produced by the management changes in the first quarter of 2008.
Cash-flow, under the influence of the special effect, declined in the result for the first three months of the current fiscal year, by 5% to EUR 79 million (Q1 2007: EUR 83 million). Free cashflow, at EUR 33 million (Q1 2007: EUR -3 million), was markedly above the previous year's figure.
"Even at the beginning of 2008, HUGO BOSS was able to continue its successful path despite a challenging marketplace environment," commented Joachim Reinhardt, CFO of HUGO BOSS AG.
"For the ongoing trading period, we anticipate a currency-adjusted growth in sales of 6-8%. Earnings before Interest and Tax (EBIT) should increase by 8-10% before taking account of special effects. Accordingly we are able to confirm our previous outlook for 2008 as a whole."
HUGO BOSS AG
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