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Feb 01, 2018  

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Hugo Boss sales pick up at stores, online and in U.S.

Hugo Boss sales pick up at stores, online and in U.S. BERLIN (Reuters) - German fashion house Hugo Boss ( BOSSn.DE ) reported an acceleration in currency-adjusted sales in the fourth-quarter, driven by a rebound in growth at its stores, a jump in online sales and a recovery in the United States. After a string of profit warnings and falling sales in China and the United States, Hugo Boss revamped its core brands to appeal to younger buyers, slashed prices in China, closed loss-making stores and overhauled its website. Hugo Boss said sales rose 1 percent to 735 million euros ($902.14 million), a currency-adjusted rise of 5 percent, compared with average analyst forecasts on Thomson Reuters Eikon for 732 million euros. It reports full figures on March 8. Hugo Boss shares, up more than a quarter in the past year and narrowing the discount to luxury peers like LVMH ( LVMH.PA ) and Burberry ( BRBY.L ), were up 2 percent at 0828 GMT, making it one of the biggest gainers on the German mid-cap index .MDAXI. RBC analyst Piral Dadhania said growth in Asia Pacific was better than expected and the Americas was also strong but Europe was weaker due to a 5 percent fall in the wholesale business. The Hugo Boss logo is seen in Metzingen, Germany, June 16, 2017. REUTERS/Michaela Rehle “2018 should see further improvements as the brand moves towards its BOSS and HUGO label structure and continues to improve its e-commerce offer,” he wrote.

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