Hugo Boss expect high single-digit growth rate in 2013
Retail sales will be the “growth engine” as they grow by a “double-digit”percentage, Hugo Boss CEO Claus-Dietrich Lahrs told Bloomberg today. He also added that the company will spend more this year, which it expects to be “challenging,” as it expands its own store network after retail sales exceeded wholesale sales for the first time in 2012. Hugo Boss added 218 stores net last year, including in Brussels, Toronto and Melbourne, expanding the total number of stores by 35 percent to 840.
The company maintained its forecasts for revenue of 3 billion euros and Ebitda of 750 million euros in 2015 as it opens more stores and increases sales in Asia and the U.S. The clothing retailer said the retail business will represent about 55 percent of revenue by that year as it opens about 50 stores annually.