By Andrea Figueras
Hugo Boss reported higher preliminary sales for both the fourth quarter and the year as a whole and narrowed its full-year earnings expectations.
For the October-December period, the German premium-fashion company said Tuesday that it booked earnings before interest and taxes of 121 million euros ($132.5 million), up 17% on-year.
Currency-adjusted sales for the fourth quarter grew 13% to EUR1.18 billion. All regions contributed to growth, with particular strength in the Americas, where currency-adjusted sales increased 18% to EUR295 million.
For 2023 as a whole, the company reported EBIT of EUR410 million, up 22% on year, and sales of EUR4.2 billion, up 18% on year on a currency-adjusted basis.
Results came in line with the company’s outlook, as it previously anticipated group sales to increase between 12% and 15% to a new record level of between EUR4.1 billion and EUR4.2 billion.
The company adjusted its 2023 EBIT forecast and expects operating profit to increase by 22% to an amount of EUR410 million. Hugo Boss previously saw an EBIT increase between 20% and 25% to a range of EUR400 million and EUR420 million.
Write to Andrea Figueras at andrea.figueras@wsj.com
