Hugo Boss eyes record 2013

BERLIN - German fashion house Hugo Boss Thursday announced record-high sales and earnings in 2012 and said it would improve on this performance next year despite a "challenging" economic environment.

Hugo Boss said group sales grew by 14 percent to 2.346 billion euros ($3.0 billion) last year and underlying profit, as measured by earnings before interest, depreciation and amortisation (EBITDA), rose by 13 percent to 529 million euros.

Net profit was up eight percent at 307.4 million euros.

"In spite of the challenging economic environment, Hugo Boss posted significant increases in sales and earnings in 2012 and thus achieved the targets it had set itself," the firm said in its annual earnings statement.

"We also see major opportunities to continue to grow profitably and further enhance the perception of our brands in 2013," said chief executive Claus-Dietrich Lahrs.

Hugo Boss said it was forecasting "high-single-digit" sales and earnings growth this year after all its business regions contributed to the strong 2012 performance.

The group said it would open around 50 new stores worldwide as it attempts to expand its own retail business further.