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Jan. 21, 2020, 2:00 a.m. EST

Hugo Boss sales, profit rose on European growth

By Carlo Martuscelli

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General view of the HUGO BOSS Outlet opening at Outlet-City on September 26, 2019 in Metzingen, Germany.

Hugo Boss AG said Tuesday that sales and operating profit rose in the fourth quarter, buoyed by growing momentum in Europe.

The fashion retailer (FRA:DE:BOSS)  posted quarterly sales of 825 million euros ($915 million) in its preliminary results, a 4% increase when adjusted for currency effects.

Earnings before interest and tax totaled EUR122 million, a 9% increase at constant currency.

Double-digit sales growth in France and Great Britain helped drive the European business, though Germany suffered difficulties in the wholesale business. In Asia, strong sales momentum continued in mainland China, the company said.

Full-year EBIT when excluding the effects of the new IFRS 16 accounting standard fell 4% while sales grew 2%, all at constant currency, Hugo Boss said.

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