HUGO BOSS FY Group Sales Up 6%

(RTTNews) - German clothing maker Hugo Boss AG (HUGSF.PK) said it has met its 2014 sales and profit targets, announced in November 2014.

In the full year 2014, consolidated sales rose 6%, adjusted for currency movements and on a preliminary basis. Likewise, in the reporting currency, Group sales for the year increased 6% to 2.57 billion euros from last year's 2.43 billion euros. Growing at a double-digit rate, the Group's own retail business was once again the growth driver.

In the fourth quarter, HUGO BOSS realized 3% sales growth after adjusting for exchange rate effects on a preliminary, non-audited basis. This amounts to a 5% increase in the reporting currency to 684 million euros, with all regions and distribution channels contributing to the growth.

In a separate press release, the company said it would be managing its business in Korea and the Middle East itself in future. Also, it would take over the last remaining franchise stores in China.