BERLIN — Hugo Boss surpassed its earnings and sales goals for 2007, according to preliminary figures released Wednesday.
This story first appeared in the February 7, 2008 issue of WWD. Subscribe Today.
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.