Hugo Boss sales rise 3% in FY19

Fashion

13 Mar `20

2 min read

Hugo Boss, a German luxury fashion house, posted 3 per cent increase in its sales to €2,884 million in fiscal 2019 that ended on December 31, 2019 compared to €2,796 million in prior year. Gross profit grew 3 per cent to €1,875 million. However, net income declined 13 per cent to €205 million in FY19 compared to €236 million in prior year.

Hugo Boss, a German luxury fashion house, posted 3 per cent increase in its sales to €2,884 million in fiscal 2019 that ended on December 31, 2019 compared to €2,796 million in prior year. Gross profit grew 3 per cent to €1,875 million. However, net income declined 13 per cent to €205 million in FY19 compared to €236 million in prior year.#

"2019 was an eventful year for Hugo Boss. Importantly, we have made further progress in implementing our strategy," Mark Langer, chief executive officer of Hugo Boss, said in a press release. "We strengthened our personalised offerings, significantly expanded our online business and increased retail sales productivity in our stores."

Hugo Boss, a German luxury fashion house, posted 3 per cent increase in its sales to €2,884 million in fiscal 2019 that ended on December 31, 2019 compared to €2,796 million in prior year. Gross profit grew 3 per cent to €1,875 million. However, net income declined 13 per cent to €205 million in FY19 compared to €236 million in prior year.#

As in the prior year, the online business recorded significant double-digit growth. At €333 million, operating profit (EBIT) in fiscal 2019 was 4 per cent below the prior year level. This is reportedly attributable to a lower gross profit margin as well as an increase in operating expenses.

Hugo Boss, a German luxury fashion house, posted 3 per cent increase in its sales to €2,884 million in fiscal 2019 that ended on December 31, 2019 compared to €2,796 million in prior year. Gross profit grew 3 per cent to €1,875 million. However, net income declined 13 per cent to €205 million in FY19 compared to €236 million in prior year.#

Sales in Europe rose 4 per cent to €1,803 million. In the Americas, the difficult market environment in the US and Canada weighed on the sales performance with 7 per cent decrease to €560 million in 2019. Sales in Asia/Pacific grew at an above average rate by 5 per cent to €438 million reportedly due to higher sales in China.

Hugo Boss, a German luxury fashion house, posted 3 per cent increase in its sales to €2,884 million in fiscal 2019 that ended on December 31, 2019 compared to €2,796 million in prior year. Gross profit grew 3 per cent to €1,875 million. However, net income declined 13 per cent to €205 million in FY19 compared to €236 million in prior year.#

In the group's own retail business sales increased 4 per cent to €1,869 million in 2019. In the wholesale channel, sales declined 3 per cent to €931 million reportedly due to the persistently difficult market environment in US. In addition, the intensification of online partnerships in the concession model also had a negative impact on wholesale sales, as company reported. Sales in the license business were 10 per cent above the prior year level.

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