WWD.com/beauty-industry-news/financial/hugo-boss-sales-gain-14-509020/
government-trade
government-trade

Hugo Boss Sales Gain 14%

According to preliminary year-end figures released Wednesday, 2006 net income for the Hugo Boss Group increased 19 percent.

BERLIN — According to preliminary year-end figures released Wednesday, 2006 net income for the Hugo Boss Group increased 19 percent, to 129 million euros, or $162.1 million. Dollar figures are at average exchange rates.

Earnings before taxes rose 14 percent, to 180 million euros, or $226.1 million, and sales for the group rose 14 percent, to 1.496 billion euros, or $1.88 billion.

Bruno Sälzer, chairman of the managing board, said the Boss Womenswear and Shoes & Leather Accessories business divisions “again proved to be strong growth areas in 2006.” Women’s sales leapt 69 percent, to 162 million euros, or $203.5 million, and shoe and leather accessories sales grew 28 percent, to 151 million euros, or $189.7 million.

In a statement, he also noted that the Group’s directly operated stores increased sales 39 percent, to 192 million euros, or $241.2 million, contributing to Boss’ strong performance.

The managing board is forecasting “the positive sales and earnings trends to continue in 2007.” Final figures will be made public at the annual financial press conference March 21.