Hugo Boss profits double as Americas sales surge

Hugo Boss profits double as Americas sales surge

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Hugo Boss AG

on Wednesday said that second-quarter net profit more than doubled, supported by strong sales growth.

The German premium-apparel maker said net profit for the three-month period was 58 million euros ($59 million) compared with EUR23 million in the same period a year earlier. As reported last month, sales grew 34% on a currency adjusted basis to EUR878 million.

Operating profit was EUR100 million, in line with preliminary figures released July 13, up from EUR42 million.

The company said performance was boosted by its mid-term growth strategy and efforts to refresh its BOSS and HUGO brands.

The company said most of its major markets posted double-digit currency-adjusted sales growth. The Americas drove earnings with 45% currency-adjusted sales growth, followed by Europe at 41%.

Hugo Boss confirmed its outlook for the year, which it had raised last month. It expects sales will grow 20% to 25% to between EUR3.3 billion and EUR3.5 billion with operating profit increasing to between EUR285 million and EUR310 million.

Write to Pierre Bertrand at [email protected]

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