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Known for its smart men's suits, Hugo Boss has introduced more
casual and sportswear styles to appeal to a younger audience and
invested heavily in its online offer after a bid to go upmarket
backfired a few years ago.
The company said it expected a high single-digit percentage
increase in operating profit for 2019 and a mid single-digit
percentage rise in currency-adjusted sales.
"We are ensuring profitable growth in 2019 and beyond. Strong
momentum in our own online business and in Asia will make a
significant contribution this year,” Chief Executive Mark Langer
said in a statement.
Investors are worried about slowing demand for luxury goods as
the economy stalls in China, but Hugo Boss forecast "overproportionate
growth" in the Asia-Pacific region.
The company said it expected strong double-digit growth to
continue in its online business, after it reached sales of more
than 100 million euros in 2018 for the first time.
British rival Burberry reported a 1 percent rise in same-store
sales in the 13 weeks ending Dec. 29, missing a 2 percent growth
forecast.
(Reporting by Emma Thomasson; editing by Thomas Seythal and
Emelia Sithole-Matarise)
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