Although consumer sentiment was poor last year, fashion retailer Hugo Boss was still able to record historic sales. Revenues climbed by 15 percent to 4.2 billion euros.
The fashion retailer Hugo Boss decoupled itself from the weak consumer mood last year and significantly increased sales and operating results. In the fourth quarter, sales increased by 10 percent after adjusting for currency effects to 1.18 billion euros, as the company announced based on preliminary figures in Metzingen.
It was the highest sales quarter in the company’s history. All brands, regions and sales channels contributed to the growth. Earnings before interest and taxes (EBIT) increased by 17 percent to 121 million euros. Analysts had expected a little more here.
For the year as a whole, revenues climbed by 15 percent to a record value of 4.2 billion euros, and EBIT improved by 22 percent to 410 million euros. Hugo Boss had recently forecast sales growth of 12 to 15 percent to 4.1 billion to 4.2 billion euros for 2023. The fashion retailer saw EBIT increase by 20 to 25 percent to up to 420 million euros. Management had already increased its outlook twice last year. Hugo Boss plans to present the detailed figures and the outlook on March 7th.
Source: Stern
