Still no signs of a slowdown
There is still no sign of a spending slowdown as yet another luxury brand has reported better-than-expected results for 2007.
German high-end fashion, footwear and accessories company Hugo Boss saw group sales rise 9% for the year to reach €1.632 billion (a 12% rise on a currency-adjusted basis), while net income increased a massive 20% to €154 million, up from €29 million in 2006.
Sales improved across the company’s divisions with footwear and accessories posting an impressive 16% increase to reach €176 million, which, according to Bruno Sälzer, chairman of the board, “contributed very significantly to our growth”.
As with so many other big name brands, the company also remains positive for the future and is expecting “to break further records in sales and earnings” in fiscal 2008.
