Overall statement on business development
HUGO BOSS grows sales and consolidated net income
The HUGO BOSS Group succeeded in continuing its growth trajectory in fiscal year 2014 despite the challenging economic and industry-specific situation. Effective implementation of the Group strategy ensured that HUGO BOSS was once more able to drive its sales and consolidated net income to new record levels in fiscal year 2014. However, this performance was slightly below the original expectations. The key factor here lay in weaker growth in the Group’s own retail business towards the end of the year.
Sales development (in EUR million)
In fiscal year 2014, HUGO BOSS generated consolidated sales of EUR 2.572 million. Sales in the Group’s reporting currency were thus 6% up on the prior-year period (2013: EUR 2.432 million). Exchange rate fluctuations evened out over the course of the year and remained without an effect on the development of the consolidated sales. In local currencies, HUGO BOSS also registered a 6% increase in sales year on year.
Sales performance by quarter (in Mio. EUR)
Development of sales over the course of the year reflects new seasonal structure of business model
The development of sales over the course of the year reflects, in particular, the increasing share in sales of the Group’s own retail business. First-quarter sales rose by 3% to EUR 613 million thanks to double-digit increases in the Group’s own retail business (Q1 2013: EUR 593 million). In local currencies, sales in this region were up 6%. Despite the challenging conditions set by the general economy and the slow recovery of consumer activity, sales growth picked up in the second quarter. At EUR 559 million, Group sales overtook those of the comparable prior-year period by 5% (Q2 2013: EUR 532 million), or a sales increase of 8% after currency adjustment. HUGO BOSS also continued to grow in the third quarter. The Group’s own retail business and the wholesale business therefore both contributed to the rise in sales of 9% to EUR 717 million (Q3 2013: EUR 658 million). Third-quarter sales growth also came to 9% after currency adjustment. The weaker growth of the Group’s own retail business towards the end of the year was partly compensated by the upturn in the order business with wholesale partners. At EUR 684 million, sales in the fourth quarter of fiscal year 2014 were 5% up on the prior year (Q4 2013: EUR 649 million). They were up 3% in currency-adjusted terms.