85 774
Fashion Jobs
OLD NAVY
Assistant General Manager, Merchandising - Pheasant Run Plaza
Permanent · CHICO
OLD NAVY
Assistant General Manager, Merchandising - Merrimack Premium
Permanent · MERRIMACK
ATHLETA
Assistant General Manager - 18th & 5th
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Arizona Mills
Permanent · TEMPE
GAP
General Manager - Philadelphia Mills
Permanent · PHILADELPHIA
OLD NAVY
General Manager - Shops at Waldorf Center (New Store)
Permanent · WALDORF
OLD NAVY
Assistant General Manager, Merchandising - Triangle Square
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Northgate Mall
Permanent · CHATTANOOGA
OLD NAVY
General Manager - Coosa Town Center
Permanent · GADSDEN
OLD NAVY
General Manager - Upper Valley Plaza
Permanent · LEBANON
ATHLETA
General Manager - Issaquah Commons
Permanent · ISSAQUAH
ATHLETA
General Manager - 2nd And Pch
Permanent · LONG BEACH
BANANA REPUBLIC
Assistant General Manager - Home
Permanent · TROY
OLD NAVY
Director, CRM, Marketing
Permanent · SAN FRANCISCO
HENKEL
Senior Automation Tech
Permanent · GENEVA
ESSILORLUXOTTICA GROUP
Customer Service Representative
Permanent · EAST SYRACUSE
ESSILORLUXOTTICA GROUP
Customer Service Representative Classic Optical)
Permanent · YOUNGSTOWN
ESSILORLUXOTTICA GROUP
sr. Manager, Business Growth
Permanent · NEW YORK
ESSILORLUXOTTICA GROUP
Associate Manager, Trade Event Marketing
Permanent · DALLAS
ESSILORLUXOTTICA GROUP
Oakley - Specialized Consultant
Permanent · PEMBROKE PINES
ESSILORLUXOTTICA GROUP
Oakley - Sales Supervisor
Permanent · CAMARILLO
ESSILORLUXOTTICA GROUP
Naasc - Material Handler II (Inbound Team Lead)
Permanent · MCDONOUGH
By
Reuters
Published
Aug 4, 2015
Reading time
2 minutes
Download
Download the article
Print
Text size

Hugo Boss sales helped by online, Europe recovery

By
Reuters
Published
Aug 4, 2015

German fashion house Hugo Boss reported second-quarter sales that rose more than expected due to a rebound in Europe and last year's relaunch of its website, although higher rebates weighed on its gross margin.

Net profit rose 13 percent to 71 million euros ($78 million), slightly ahead of analysts' average estimate of 70 million. Sales rose 16 percent to 647 million euros, well ahead of the average forecast of 631 million.


Hugo Boss said on Tuesday strong sales were driven by Europe, which saw currency-adjusted growth of 7 percent, as sales in Britain rose at a double-digit rate and also picked up in most other countries on the continent. Online sales rose a currency-adjusted 34 percent helped by the revamped website.

"Because of our strength in the European market, we expect the favourable trend to continue in the second half, even though conditions in the USA and China remain difficult," Chief Executive Claus-Dietrich Lahrs said in a statement.

The luxury sector, which has been suffering from lower demand in China due to an anti-corruption campaign and economic slowdown, is showing signs of recovery elsewhere with other brands like LVMH and Kering's Gucci also reporting stronger sales.

Hugo Boss's strategy of investing in expanding its own store network, is also paying off, with currency-adjusted sales in its own stores up 12 percent, while wholesale sales fell 3 percent.

That helped support profitability as it earns more from sales in its own stores than through other retailers' shops, but higher rebates and negative inventory valuation effects dented the gross margin to 66.5 percent from 66.7 percent.

It said that meant the rise in its gross profit margin was likely to be lower than originally expected but confirmed it expects a mid single-digit percentage rise in currency-adjusted sales this year and earnings before interest, tax, depreciation and amortisation (EBITDA), adjusted for special items, to rise 5-7 percent.

It also slightly lifted its expected capital expenditure target for the year to 220-240 million euros from a previous 200-220 million.


 

© Thomson Reuters 2024 All rights reserved.