HUGO BOSS PROFITS RISE 20 PERCENT
METZINGEN, Germany — A strong second quarter pushed Hugo Boss AG’s profits and sales up more than 20 percent in the first half of 2001, prompting the German apparel producer to upwardly revise its estimates for the remainder of the year.
Net income rose 22 percent, to $46.4 million from the first six months of 2000, while sales picked up 25 percent, to $456.1 million. Dollar figures have been converted from the euro at current exchange rates.
The company said all brands performed well and performance was strong in all geographic markets during the first half.
Citing a positive fall-winter order picture, the German apparel giant has boosted its sales and earnings projections for the remainder of the year. Boss now expects sales growth of 18 percent, to $954.3 million, and profit growth of 14 percent, to $98.9 million.
Marzotto Group, based in Veneto, Italy, has a majority stake in Hugo Boss. It gave the German firm much of the credit for its 56 percent leap in net profits last year, to slightly less than $60 million, and its 15 percent growth in sales, to $1.5 billion.