BERLIN — In what Hugo Boss termed “the best year in the group’s history,” the German fashion house reported buoyant profit and sales growth in both the fourth quarter and for the full year.
Preliminary figures show fourth-quarter net income surged 580 percent to 34 million euros, or $46.3 million, compared to 5 million euros, or $7.4 million, for the period in 2009. All dollar figures are converted from the euro at average exchange rates for the respective periods.
Group sales for the quarter rose 24 percent on a currency-adjusted basis and 30 percent in euro terms to 422 million euros, or $574.1 million.
Net income for the full year rocketed 82 percent to 189 million euros, or $251 million, while sales increased by 7 percent on a currency-neutral basis and 11 percent in euro terms to 1.73 billion euros, or $2.3 billion.
Boss said the Chinese and American markets significantly contributed to the strong sales performance.
Claus-Dietrich Lahrs, chief executive officer, said the group’s profitable growth “will be clearly visible also in 2011.”
The company is slated publish full results for 2010 and the outlook for 2011 on March 29.