Hugo Boss hails 2010 as its 'best year' ever

BERLIN, Feb 3, 2011 (AFP) - The German fashion group Hugo Boss on Thursday hailed 2010 as "the best year in the group's history" as it posted an 82 percent leap in net profit to 189 million euros ($260 million).

Hugo Show in Berlin - (Agency People Image © Michael Tinnefeld)

Sales were 11 percent higher at 1.73 billion euros, a record for the group, and core earnings leapt by 31 percent to 350 million euros, a statement said.

Boss issued a "very confident outlook for the fiscal year 2011," with currency-neutral sales expected to rise faster than last year's rate of seven percent.

Chief executive Dietrich Lahrs put the strong results down to investments in China and the United States, and the statement said that "in particular the group's own retail business contributed overproportionately to the increase."

Comparable sales in stores run directly by Boss grew by nine percent on a currency-neutral basis, it added.

In the fourth quarter, sales increased by double digit percentages "in all regions and distribution channels," the company said.