Expansion of its retail activities and substantial growth in the U.S. and China allowed Hugo Boss AG to more than quintuple its second-quarter profits and lift its guidance for the full year.
In the three months ended June 30, the Metzingen, Germany-based apparel firm registered net income of 31 million euros, or $44.6 million, versus 6 million euros, or $7.7 million, during the corresponding 2010 quarter. Earnings before interest, taxes, depreciation, amortization and special items more than doubled to 63 million euros, or $90.6 million, from 31 million euros, or $39.5 million.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"