Défilé Boss Black

Mixed results for the German high-end fashion firm. Hugo Boss was able to balance drastic decreases in sales in some European countries, with more positive results overseas, both in Americas and in Asia.

Turnover was up by 3% in the UK, but down by 21% in France. In the Benelux countries, the drop in sales settles at 15%. In Spain matters seem worse as 25 of its exclusive boutiques were closed in 2009. This made an impact on its report the first semester in 2010. Looking on the bright side, the German company made progress in its own homeland and in the United Kingdom, whose sales helped to limit the decrease in turnover to 10% in Europe.

Looking beyond European borders sales are up. Asia registered +17% (in Euros), the United States +10% (in dollars), and +23% in Canada. Thus, turnover in the American continent amounted to 169 million Euros.

In total, the group has registered 4%, elevating to a 769 million Euro turnover, a downwards trend in comparison to last year. In profit (before taxes and interest), Hugo Boss will content itself with 87 million Euros. On another note, Boss has particularly lost sales due to its multi-brand distributors who have been most affected by the crisis.

On the contrary, the German firm has registered a 31% increase in sales within its own boutiques, elevating to 179 million euros. Online sales account for 8 million, against only 2 million in comparison to last year during the same period. Its economic situation is on a positive trend, registering 7% during the second trimester. A modest aim to attain a 3 to 5 percent growth is foreseen by its managing directors. Moreover, the company's benefit could increase to 10 or 12%.