German fashion brand Hugo Boss managed growth in every region in the first quarter. Group turnover grew 5 % to 650 million euro, partially thanks to strong web shop sales.
Investments pay off
Hugo Boss’ first quarter was good: the fashion chain’s turnover grew to 650 million euro, up 5 % and in line with what it had forecast for the full year sales and profit targets. The fashion brand performed well in a lot of markets: turnover in Asia and the United Kingdom grew 12 %; sales in North and South America and the Benelux went up 7 %. European sales grew slightly, but it did suffer a 5 % blow in the German home market.
CEO Mark Langer is satisfied: "Our own Hugo Boss brands are the driving force of our growth, thanks to a 7 % turnover increase, which clearly shows that our new collections please our customers.3 The fashion group established a 43 % growth in online sales, thanks to a new web shop and its improved positioning of its Hugo and Boss labels online.
Its first quarter operational profit was 99 million euro, a slight improvement over the same period in 2017. Hugo Boss hopes its investments, which include its business model’s digital transformation, will continue to pay off in the next few months.