German fashion brand Hugo Boss’ third quarter turnover grew 1 % to 711 million euro, mainly thanks to excellent European sales (+ 4 %).
Strong performance from retail division
In the third quarter, Hugo Boss’ retail branch grew 3 % to 410 million euro and 5 % on a like-for-like basis. Its wholesale activities slumped 3 % to 281 million euro. Net profit remained stable compared to last year, at 80.3 million euro.
“We are well on track to achieving our goals for 2017 or even exceeding some of them,” says CEO Mark Langer. “In particular, the performance of our own retail business is highly satisfying. We are making good progress in repositioning BOSS and HUGO.” Nevertheless, not everything was positive, because its North and South American turnover dipped 8 %, mainly because of weak performances in the United States, where it slumped 9 %.
Its European performance was quite the contrary: turnover grew 4 % with United Kingdom, Germany and the Benelux leading the way. Its own store network performed exceptionally well, considering its drop in wholesale turnover. Hugo Boss also reaped the rewards in Asia because of continued growth in China.
