BERLIN – Deteriorating market conditions put the brakes on Hugo Boss’s growth momentum in 2014, with consolidated net income for the year inching up 1 percent. In final figures released today, Boss reported consolidated net income of 334.5 million euros, or $444.6 million. As previously reported, operating profit rose 5 percent to 590.8 million euros, or $785.3 million, with group sales gaining 6 percent to reach 2.57 billion euros, or $3.42 billion. However, as the German group pointed out, despite a slower rate of growth, Boss still achieved record sales and earnings in 2014. All dollar figures are converted from the euro at average exchange rates for the period to which they refer. For the year ahead, Boss said that although challenging market conditions will continue, the group expects to book mid-single-digit gains in currency-adjusted group sales, supported by all regions. Own retail sales are expected to outpace group growth, with ongoing gains in retail comp store sales. Fifty new stores are slated to open in 2015, with additional takeovers planned. Boss is forecasting a 5-7 percent increase in EBITDA before special items. Chief executive officer Claus-Dietrich Lahrs said Boss would be “expanding our market position in the luxury and women’s wear segments and reinforcing
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