By  on January 16, 2018

BERLIN Backed by solid fourth-quarter sales, particularly in its own retail business, Hugo Boss met its annual targets for 2017.In preliminary figures released on Tuesday, Boss reported sales grew 1 percent in the quarter to 735 million euros. In currency-adjusted terms, sales gained 5 percent in the period.For the full year, Boss reported a 1 percent gain in group net sales, which reached 2.73 billion euros, according to preliminary figures. On a currency-adjusted basis, sales were up 3 percent. Earnings before interest, taxes, depreciation and amortization met 2016 levels, the group said.“We achieved our goals for 2017,” chief executive officer Mark Langer said. “The fourth quarter was particularly pleasing. The strong development in own retail shows that we are on the right path with the changes we are making to our collections and our stores."Our online business is now on track, too, and will make a sustainable contribution toward the growth of the company,” he added.In the fourth quarter, Boss retail comp sales rose 7 percent, while online sales surged 42 percent. Geographically, the Americas and Asia-Pacific were the strongest performing markets, with group sales up 11 and 10 percent, respectively, on a currency-adjusted basis, while sales in Europe were up 1 percent.By brand, Boss grew sales 6 percent in currency-adjusted terms to 636 million euros, while sales for Hugo slipped 2 percent to 99 million euros. The Group’s men’s wear sales gained 6 percent, benefiting from growth in Boss business and ath-leisurewear, Boss noted, while women’s wear was down 3 percent.Final 2017 results will be published on March 8.

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