Hugo Boss, the German premium-fashion company, has announced its preliminary sales figures for both the fourth quarter and the entire year. The company reported an 17% increase in earnings before interest and taxes (EBIT) for the October-December period, reaching €121 million ($132.5 million).
In terms of sales, Hugo Boss saw a 13% growth to €1.18 billion in the fourth quarter. This growth was driven by all regions, with particular strength in the Americas where sales increased by 18% to €295 million.
Looking at the full year, Hugo Boss achieved an EBIT of €410 million, which represents a 22% increase compared to the previous year. Sales for the entire year reached €4.2 billion, marking an 18% growth on a currency-adjusted basis.
The company's results are in line with its previous outlook, which anticipated a sales increase of 12% to 15% and achieving a new record level of between €4.1 billion and €4.2 billion.
As a result of these strong sales figures, Hugo Boss has adjusted its 2023 EBIT forecast to a 22% increase, reaching €410 million. Previously, the company projected an EBIT increase between 20% and 25%, to a range of €400 million and €420 million.
Overall, Hugo Boss has delivered impressive sales growth, demonstrating its strength in the premium-fashion market.
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