Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Hugo Boss FY preliminary results beat own guidance

Published 01/17/2023, 02:52 AM
Updated 01/17/2023, 02:56 AM
© Reuters. Shirts and ties are on display in the Hugo Boss section in the Central Universal Department Store (TsUm) in Kiev, Ukraine May 17, 2017. REUTERS/Valentyn Ogirenko/Files

© Reuters. Shirts and ties are on display in the Hugo Boss section in the Central Universal Department Store (TsUm) in Kiev, Ukraine May 17, 2017. REUTERS/Valentyn Ogirenko/Files

(Reuters) - Hugo Boss on Tuesday reported a double-digit rise in preliminary full-year sales and earnings, slightly ahead of its own guidance, citing ongoing solid demand after a brand revamp during 2022.

Currency-adjusted sales in 2022 rose 27% to a record level of 3.65 billion euros ($3.95 billion), the company said in a statement, while its operating profit (EBIT) increased 47% to 335 million euros.

The German fashion house had previously forecast sales in a range of 3.5 billion and 3.6 billion euros, with an increase in EBIT between 35% and 45%.

"Overall the buyside was already sitting ahead of Hugo Boss guidance," J.P. Morgan analyst Chiara Battistini wrote in a note, adding she would not expect to see further strength in the shares on Tuesday.

The stock was down 0.5% in early Frankfurt trade.

© Reuters. Shirts and ties are on display in the Hugo Boss section in the Central Universal Department Store (TsUm) in Kiev, Ukraine May 17, 2017. REUTERS/Valentyn Ogirenko/Files

Hugo Boss said it would publish its final results for 2022 and its outlook for 2023 on March 9.

($1 = 0.9248 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.