BERLIN — At its annual financial press conference in Metzingen Thursday, Hugo Boss AG projected a “slight increase in currency-adjusted sales and a disproportionate rise in net income” for 2004.
The German fashion group is looking for further growth from its bodywear, knitwear, shoes and leather accessories ranges, which were formerly licensed but have now been taken in-house.
Final 2003 figures were in line with preliminary earnings and sales figures released in February. As reported on Feb. 20, net earnings rose 10.3 percent to $101 million, or 82.4 million euros, whereas group sales dropped 3.7 percent to $1.29 billion, or 1.05 billion euros. Dollar figures are calculated from the euro at current exchange rates.
Also as reported, Boss Woman broke even in the second half of 2003, and significantly improved earnings and sales for the year. Losses were cut to $3.7 million, or 3 million euros, from $22.2 million, or 18.1 million euros, in 2002, and sales surged 37 percent to $62.3 million, or 50.8 million euros.