Positive quarter for Hugo Boss Hong Kong
With double-digit growth, Hugo Boss Hong Kong and Macau delivered a particularly positive first quarter.
Overall sales in China rose by 11 per cent in local currencies to €91 million (US$108 million). The German luxury fashion brand also had double-digit growth in Japan and Southeast Asia on a currency-adjusted basis.
Segment profit in Asia/Pacific rose significantly, helped by lower selling and distribution expenses and despite negative currency effects. At 28 per cent, the adjusted EBITDA margin was up 270 points.
Positive sales momentum continued for the group’s own retail business (including outlets and online stores), with currency-adjusted sales up 8 per cent. Sales grew by 7 per cent on a same-store and currency-adjusted basis.
Currency-adjusted group sales rose 5 per cent in the quarter to reach €650 million. At €99 million, the operating profit was up slightly.