Hugo Boss smashes sales records as Europe booms

Hugo Boss smashes sales records as Europe booms
German fashion house Hugo Boss said Friday it clocked up record sales and operating profit in 2015, even as growth slowed in the fourth quarter due to "challenges" in China and the United States.

“Hugo Boss has increased sales and operating profit to new record levels in the past 12 months. Hence, 2015 marked the sixth consecutive year of growth,” the company said in a statement.

In the fourth quarter alone, a “strong performance in Europe drove solid top line growth. Continued challenges in China and the US, however, dampened sales and profit development,” it said.

“We continue to experience strong momentum in Europe despite rising political uncertainties in the region,” said chief executive Claus-Dietrich Lahrs.

Group sales increased by 10 percent to €750 million ($822 million) in the period from October to December.

Fourth-quarter operating profit edged up 2.4 percent to €171 million.

Taking the year as a whole, group sales grew by nine percent to €2.809 billion and full-year operating profit rose by one percent to €594 million, Hugo Boss said in preliminary figures.

It added that it would published final audited figures for both the fourth quarter and the full year on March 10th.