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BERLIN — Supported by a solid fourth quarter, Hugo Boss closed 2013 with a 7 percent increase in operating profit and 6 percent increase in currency-adjusted sales, meeting the group’s sales and earnings targets.
This story first appeared in the February 10, 2014 issue of WWD. Subscribe Today.
In preliminary figures released Friday, Boss reported earnings before interest, taxes, depreciation and amortization before special items reached 565 million euros, or $750.5 million, in 2013, compared to 528 million euros, or $679.1 million, a year previously.
Dollar figures are converted from the euro at an average exchange rate for the periods in question.
Consolidated sales hit 2.43 billion, or $3.23 billion, up from 2.35 billion euros, or $3.02 billion, in 2012.
In the fourth quarter, EBITDA before special items rose 17 percent to 157 million euros, or $213.7 million, thanks to increased sales and an improved gross margin. Sales in the period rose 7 percent to 649 million euros, or $883.4 million. Adjusted for currency effects, sales grew 10 percent, with all regions and distribution channels contributing to the performance.
In the group’s own retail business, Boss reported double-digit growth fueled by new store openings. Comp-store sales rose 3 percent on a currency-adjusted basis.
“We have made good progress over the year just ended in our effort to scale up our own retail business and strengthen the premium and luxury claim of our core Boss brand,” said chief executive officer Claus-Dietrich Lahrs. “We are going to rigorously drive forward this realignment towards end customers.”
Boss is to release final results for 2013 and the 2014 outlook on March 13.