German clothing brand Hugo Boss has had a record year in 2013, with turnover and profit at record heights. The company aims to duplicate or even improve the success in 2014.
Retail had largest growth
2013's fourth quarter turnover growth was 7 %, to 649 million euro, with Europe (+ 13 %) as the biggest contributor, while American (+ 9 %) and Asian (+ 5 %) performances were slightly lower. Wholesale turnover grew 1%, but retail performed exquisitely with a 17 % surge. Its own stores added 3 % in the fourth quarter.
Turnover for Hugo Boss' entire fiscal year grew 4 % to 2.43 billion euro, which helped net profit grow 7 % to 333.4 million euro, mainly thanks to retail sales which were up 18 %. Wholesale income dropped 6 %.
Europe delivered most of the turnover, with a 7 % full-year turnover increase to 1.46 billion euro. Great Britain and France took huge strides forwards in 2013, but the brand also performed well elsewhere. American sales grew 6 % to 570 million euro, while Asia grew 4 % to 346.8 million euro.
Hugo Boss expects a high single-digit turnover increase in 2014, which is higher than what it did this year. It also strives to improve in every market and have similarly high retail sales, backed up by 50 new own store. Hugo Boss estimates a 3 billion euro turnover by 2015.