Hugo Boss shares hit 66.41 euros today as the German company reported a strong first quarter. Their Q1 sales were 539 million euros, as opposed to an average estimate of 531 million, and net income was 83.5 million euros for the quarter versus estimates of just over 70 million. These numbers represented a quarter-over-quarter increase of 21% and 43%, respectively. Net income rose 48%. Boss forecast 2011 sales and profit to be up at least 12 and 15 percent, respectively, resulting primarily from growth in China and the U.S.
