Despite a difficult market, Hugo Boss has been able to boost currency-adjusted sales by 1 per cent in the third quarter. Revenues for the quarter totalled US $ 1120.54 million in group currency, which was somewhat higher than the previous year.
The company’s currency-adjusted sales increased by 2 per cent, while its group currency revenues increased by 1 per cent to US $ 3330.03 million, bolstered by the third-quarter performance.
Sales of Boss womenswear rose by 2 per cent in the third quarter, while revenues for Boss menswear increased by 1 per cent over the previous year. During the quarter, Hugo’s currency-adjusted sales increased by 2 per cent.
While brick-and-mortar wholesale businesses saw a currency-adjusted increase of 4 per cent, driven by 6 per cent growth in digital business revenue, brick-and-mortar retail businesses, including freestanding stores, shop-in-shops, and outlets, saw a 3 per cent fall from the previous year.
Operating profit (EBIT) was restricted to 7 per cent, with EBIT totalling US $ 103.45 million in the third quarter. EBIT margin dropped by 80 basis points to 9.3 per cent, while gross margin stayed 50 basis points below the previous year’s level at 60.2 per cent. At US $ 60.98 million, net income was 12 per cent lower than the previous year.
