BERLIN — Hugo Boss had a strong third quarter, reporting on Tuesday that net income jumped 79 percent to 92.2 million euros, or $118.3 million.
“Our growth in the third quarter is broad-based, with all regions, distribution channels and brands contributing to it,” said Claus-Dietrich Lahrs, chairman and chief executive officer of the Metzingen, Germany-based apparel giant.
As reported, earnings before interest, taxes, depreciation and amortization before special items surged 42 percent to 150 million euros, or $192.5 million, in the third quarter. Group sales were up 14 percent in local currency and 19 percent in euro terms to reach 538 million euros, or $690.5 million.
Hugo Boss on Tuesday also detailed revenues per market and channel.
Third-quarter sales gained 12 percent in Europe, 13 percent in the U.S. and 27 percent in the Asia-Pacific region. Wholesale revenues rose 6 percent after adjustment for currency effects. Retail sales, including outlets and online, advanced 36 percent on a currency adjusted basis. Sales at directly operated stores increased 15 percent on a like-for-like, currency-adjusted basis.
Dollar figures are converted at average exchange rates for the period in question.
On the basis of third-quarter gains, Boss in October upgraded its full-year financial outlook. The group now projects EBITDA before special items to grow about 20 percent, up from 10 to 12 percent, and net sales to rise 5 percent on a currency adjusted basis, as opposed to the earlier forecast of 3-5 percent.