 Hugo Boss |
Hugo Boss, majority-owned by private equity firm Permira, forecast 2011 sales up at least 12 percent and core profit up 15 percent, with growth to be driven by China and the United States and expansion of its network of own stores.
Hugo Boss shares were indicated 1.7 percent higher at 0600 GMT in trading before markets open, according to Lang & Schwarz brokerage. Luxury groups LVMH and Burberry said last week they had made a good start to the year, despite fears that the earthquake in Japan would halt demand in the region.
"The first quarter results confirm that we have carried our momentum from 2010 into 2011," Hugo Boss Chief Executive Claus-Dietrich Lahrs said in a statement on Thursday.
Group sales for the first quarter rose 21 percent to 539 million euros ($790.7 million), with core profit before special items up 43 percent at 132 million.
Net income for the first quarter rose 48 percent to 83.5 million euros.
Analysts were on average expecting Hugo Boss to report sales of 531 million and net income of 70.6 million, according to a Reuters poll.
(Reporting by Victoria Bryan)