Overall statement on business development
HUGO BOSS grows sales and operating income to record level
The HUGO BOSS Group succeeded in continuing its growth path in 2015. Strong performance in Europe, in particular, enabled HUGO BOSS to drive its sales and operating income once more to new record figures in fiscal year 2015. However, this performance was below the original expectations. The key factor here lay in persistent challenges in China and the United States.
Sales performance
Sales development
Sales development (in EUR million)
In fiscal year 2015, HUGO BOSS generated consolidated sales of EUR 2,809 million. Sales in the Group’s reporting currency were thus 9% up on the prior-year period (2014: EUR 2,572 million). Currency effects had a positive impact on Group sales in the reporting period. In local currencies, HUGO BOSS registered a 3% increase in sales year on year.
Sales performance by quarter (in EUR million)
Sales trend over the course of the year reflects slowdown in the second half of the year
The development of sales over the course of the year reflects, in particular, the increasing share in sales of the Group’s own retail business. In a difficult market environment, HUGO BOSS entered the year 2015 on a solid footing. First-quarter sales rose by 9% to EUR 668 million, principally as a result of double-digit increases in the Group’s own retail business (Q1 2014: EUR 613 million). In local currencies, sales were up 3%. In market conditions dominated by uncertainty, sales growth picked up in the second quarter. At EUR 647 million, Group sales outstripped those of the comparable prior-year period by 16% (Q2 2014: EUR 559 million), or a sales increase of 7% after adjustment for currency effects. In the third quarter, which was marked by a deterioration in the market environment in Asia and a slowdown in the Americas, Group sales were up 4% to EUR 744 million (Q3 2014: EUR 717 million). However, currency-adjusted sales were lower by 1% due to a declining wholesale business. At EUR 750 million, sales in the fourth quarter of fiscal year 2015 exceeded those of the prior-year period by 10% (Q4 2014: EUR 684 million). They were up 5% adjusted for currency effects. The main drivers were the solid productivity improvements in the Group’s own retail business in Europe and an increase in the wholesale business.