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Hugo Boss Sees Profits Gain 20%

Hugo Boss surpassed its earnings and sales goals for 2007, according to preliminary figures released Wednesday.

BERLIN — Hugo Boss surpassed its earnings and sales goals for 2007, according to preliminary figures released Wednesday.

The Metzingen-based apparel giant boosted net profit 20 percent to 154 million euros, or $211.1 million, while earnings before taxes rose 18 percent to 212 million euros, or $290.6 million, and EBIT hit 220 million euros, or $301.6 million. All dollar figures are at an average exchange rate.

Group sales rose 9 percent to 1.6 billion euros, or $2.2 billion but, adjusted for currency effects, grew 12 percent, the group pointed out. Boss’ sales and earnings forecast called for 10 to 12 percent growth in currency adjusted sales and a 12 to 15 percent gain in pretax earnings.

Boss Womenswear, company owned retail, and shoes and leather accessories achieved the largest gains. Womenswear sales grew 29 percent to 209 million euros, or $286.5 million, while retail generated 25 percent growth to 239 million euros, or $327.6 million, and shoes and leather accessories advanced sales 16 percent to 176 million euros, or $241.3 million.

Boss is projecting further record gains in sales and earnings for 2008. Final 2007 figures will be made public at the annual financial press conference on March 27.