Hugo Boss sales rise 22 percent to 607 million euros, exceeding analysts’ expectations
German based premium brand Hugo Boss, owned by Permira Fund, reported fourth-quarter operating profit that topped analysts’ estimates, driven by growth at its wholesale business and store openings. Earnings before interest, taxes, depreciation, amortization and one-time items gained 42 percent to 138 million euros ($184.9 million), the Metzingen, Germany-based company said yesterday.
“The positive business performance in 2012 has brought us a good step closer to achieving our medium-term targets,” Chief Executive Officer Claus-Dietrich Lahrs said in a statement today. “Despite the still-challenging market environment, I am confident that we will continue to post stronger growth than the overall market in 2013.”