Hugo Boss achieved strong sales in Q4Christian Fernsby ▼ | January 21, 2020
Hugo Boss currency adjusted Group sales increased 4% on a preliminary basis.
Hugo Boss In the reporting currency, this represents an increase of 5% to EUR 825 million
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In particular, sales momentum in Europe accelerated in the final quarter.
Thanks to double digit growth in Great Britain and France, currency adjusted sales in the region grew 8%.
In Germany, an increase in sales in the own retail business did not fully compensate for a persistently difficult wholesale business.
In the Asia/Pacific region, currency-adjusted sales rose 4% in the fourth quarter.
This is mainly attributable to the ongoing strong sales momentum in Mainland China, where the Group once again achieved significant double-digit growth.
In line with expectations, the environment in Hong Kong, in contrast, remained difficult in the final quarter.
As expected, the persistently challenging market environment continued to weigh on sales performance in the U.S.
and Canada in the fourth quarter.
Overall, currency-adjusted sales in the Americas decreased 7% in the final quarter.
In total, currency-adjusted sales in the own retail business increased 7% in the fourth quarter.
On a comp store and currency-adjusted basis, this represents an acceleration in growth to 3%.
At the same time, positive effects from the intensification of online partnerships in the concession model over the course of the year and the completed renovations of strategically important BOSS stores carried out in the prior quarters made a disproportionately high contribution to growth in the own retail business.
Supported by the strategic expansion of the online concession model, own online sales growth accelerated to 52% in the fourth quarter, adjusted for currency effects.
Currency-adjusted sales in the wholesale business decreased 4%.
In line with expectations, the market environment in Germany and the U.S. remained particularly challenging.
In addition, the intensification of online partnerships in the concession model weighed on the wholesale business. ■