The HUGO BOSS Group achieved higher sales and earnings in the first nine months of 2014. This performance was underpinned by sales growth in all regions and distribution channels in the third quarter. The Company expects a currency-adjusted 6% to 8% increase in sales for the year as a whole. Operating profit (EBITDA before special items) is projected to grow between 5% and 7%. This adjusted outlook reflects the increasing challenges posed by macroeconomic conditions and the recent substantial slowdown in industry growth in Europe.
"Thanks to improving business in the Americas and Asia/Pacific together with continued good expansion in Europe, we were able to achieve very solid growth in the third quarter," says Claus-Dietrich Lahrs, the CEO of HUGO BOSS AG. "However, over the last few weeks, our business has been increasingly feeling the effects of the weak performance of the sector in Europe and uncertainties in Asia. That said, we are still confident of being able to achieve solid full-year sales and earnings growth and, thus, outpace the luxury goods sector as a whole."
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