Hugo Boss: 2018 a 'good' year - 2019 to be 'even better'
(CercleFinance.com) - German fashion house Hugo Boss said that it has achieved its targets for fiscal year 2018, and expects its operating income to grow faster than sales this year.
In 2018, sales rose by 2% to 2.8 billion euros. Adjusted for FX factors, they increased by 4%.
EBIT rose by 2%, although its operating margin declined by 10 basis points, the fashion house said.
"2018 was a good year for Hugo Boss. 2019 will be an even better year for our company," said CEO Mark Langer.
For 2019, the group expects to report high single-digit growth in operating income, hence outperforming its sales growth, the group said.
Hugo Boss shares are currently down 2.5% at 65.3 euros, underperforming a 0.8% drop in Germany's MDAX mid-cap index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In 2018, sales rose by 2% to 2.8 billion euros. Adjusted for FX factors, they increased by 4%.
EBIT rose by 2%, although its operating margin declined by 10 basis points, the fashion house said.
"2018 was a good year for Hugo Boss. 2019 will be an even better year for our company," said CEO Mark Langer.
For 2019, the group expects to report high single-digit growth in operating income, hence outperforming its sales growth, the group said.
Hugo Boss shares are currently down 2.5% at 65.3 euros, underperforming a 0.8% drop in Germany's MDAX mid-cap index.
Copyright (c) 2019 CercleFinance.com. All rights reserved.