Hugo Boss posts first-half sales growth

hugo boss update

Global fashion retailer Hugo Boss has reaffirmed its positive outlook after recording sales growth in the first half of its financial year.

For the first six months of its fiscal year, Hugo Boss Group generated sales of €1.28 billion (£1.14 billion), up two per cent year-on-year.

Despite increased marketing expenses and spending on the digital transformation of the business model, the German brand said operating profit remained at the prior year‘s level and because of this, its target of stable full-year sales and earnings in 2017 remained the same.

“Our strategic realignment is beginning to take effect,” Hugo Boss chief executive Mark Langer said.

READ MORE:  Hugo Boss full year profits drop 9% despite sales growth

“Business in the second quarter was encouraging. We made considerable headway in the US and in online business in particular.

“We are reaffirming our full-year outlook and facing the future beyond this year with confidence.”

Hugo Boss said a currency-adjusted increase in sales in Europe, as well as the Middle East and Africa, was underpinned by improved local demand and a recovery in business with tourists.

The UK particularly benefited from this, with growth in the high single digits making it a star performer in Hugo Boss’ European market. In addition, the UK retail arm recorded a sales increase of 11 per cent.

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