Hugo Boss posts 30% growth in Q4 income

Hugo Boss

Hugo Boss has seen fourth quarter profit jump 30% on rising sales and tight cost controls.

The company said that net income surged to $93.7 million over the quarter ending December 31, which it attributed to sales growth and strict management of operating expenses.

Sales grew 18% over the period after adjusting for currency effects, or up 22% in euro terms to EUR607 million ($812 million). The gains were helped by the continued expansion of its store network, as well as a 4% rise in comparable store sales.

Over the full year, net income grew 8% to $411 million. Sales were up 10% on a currency neutral basis, rising 14% in euro to EUR2.3 billion ($3.08 billion).

“The positive business performance in 2012 has brought us a good step closer to achieving our medium-term targets,” said CEO Claus-Dietrich Lahrs.

“Despite the still challenging market environment, I am confident that we will continue to post stronger growth than the overall market in 2013.”

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