Dusseldorf The fashion group Hugo Boss caught up further in the Christmas quarter and thus exceeded its annual targets, which had already been raised. According to initial calculations, currency-adjusted revenues increased by 43 percent to 2.786 billion euros, as the group announced on Tuesday. The operating result (EBIT) jumped to 228 million euros after a minus of 236 million euros.
“We have greatly accelerated our sales and earnings development over the course of the year,” explained CEO Daniel Grieder. In the end, the revenues would only be one percent below the level of the pre-crisis year 2019. The full balance sheet is to be published on March 10th.
Boss had recovered from the corona pandemic and the associated restrictions over the past year – also thanks to the strong online business. That had made the group leader, who had been in office since June, much more confident. The former Hilfiger boss raised the annual targets in the fall and announced a currency-adjusted increase in sales of around 40 percent instead of 30 percent. The EBIT should reach 175 to 200 million euros instead of 125 to 175 million euros.
The month-long business closures imposed during the pandemic had hit the fashion industry hard. Demand is currently recovering, but delivery bottlenecks from the Far East are causing new problems. Boss is less affected as there are in-house productions in Turkey, Germany, Poland and Italy.
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