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By Andrea Figueras
Hugo Boss said it is on track to deliver its full-year targets after it reported higher earnings and sales for the third quarter.
The German premium-fashion company said Thursday that its earnings before interest and taxes in the July-September period rose 12% on the year to 103 million euros ($108.9 million).
Net came in at EUR63 million, compared with EUR58 million in the year-earlier period.
Sales surged by 10% to EUR1.03 billion, with all channels contributing to growth and improvements across all regions, the company said.
Analysts had expected Hugo Boss to post an EBIT of EUR101 million and sales of EUR1.02 billion for the third quarter, according to polls of estimates compiled by FactSet.
For 2023, the company continues to anticipate group sales to increase between 12% and 15% to a new record level of between EUR4.1 billion and EUR4.2 billion.
Hugo Boss also maintained its EBIT forecast in a range of 20% and 25% to a level of between EUR400 million and EUR420 million in 2023.
However, geopolitical tensions and macroeconomic uncertainties could weigh on consumer sentiment, it said.
Write to Andrea Figueras at [email protected]
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