Group sales and results of operations
In 2013, the development of the HUGO BOSS Group's sales and earnings was primarily marked by the recessionary macroeconomic conditions in the Eurozone and the significantly weaker growth of the Chinese industry compared to prior years. In spite of this, consolidated sales grew 4% to EUR 2,432 million. Adjusted for currency effects, this is an increase of 6%. This was driven by growth across all regions and double-digit growth in the Group's own retail business. HUGO BOSS fared better than the global economy and roughly matched the growth levels reported by the premium and luxury goods industry. Thanks to the sales growth and the significant increase in gross margin, the operating result (EBITDA before special items) increased by 7% to EUR 565 million.