German tailored suits maker Hugo Boss and the
hype Crocs were the clear leaders on Thursday, as they not just posted two digit growth for their respective first quarters, but also took the lead in the trading floor.
Hugo Boss AG (BOS) reported a 10% hike in first quarter 2012 sales, while its operating profit was up 13 %. Earnings before interest, taxes, depreciation, amortization (EBITDA before special items) was £148.4 million, compared to the £131.6 million registered a year earlier Retail sales rose to double-digit in the first quarter as compared to the same period in 2011.
Europe (+9%) in general and the UK and Germany in particular, were key for Hugo Boss growth. In euro, the group posted an increase of 13% to EUR 607 million (2011: EUR 539 million). Meanwhile, US market was the main driver for a currency-adjusted increase of 15%. Also good news from Asia, were the German retailer saw a 9% sales increase
Across the Pond, Crocs, Inc. reported that its revenue for the quarter increased 19.9% to $271.8 million, over revenue of $226.7 million reported in the same quarter of 2011. Net income for the first quarter 2012 was $28.3 million, compared to net income of $21.5 million in the first quarter of 2011. Revenue increased 17.1% for America, 40.5% for Asia and decreased 2.7% for Europe. Impressive growth in online kept analysts talking about the stock, as with Internet sales soaring 23.3% to $20.5 million, over sales of $16.7 million in the first quarter of 2011. AS per their last communication, the company continues to expect to open 80 to 100 net store locations.
At the opposite end of the board, Liz Claiborne Inc, which reported loss from continuing operations about $52 million. Net sales for the first quarter of 2012 were $317 million, $14 million less than 12 months ago. The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first quarter of 2012 was $1 million, while comparable adjusted EBITDA was $4 million for the first quarter of 2011 (excluding unrealized foreign currency losses of $2 million in the first quarter of 2012 and $21 million in the first quarter of 2011).