Hugo Boss Q3 Currency-Adjusted Group Sales Surge 40% To EUR 755 Mln

Hugo Boss (HUGSF.PK), on Friday, reported over 40% growth in group sales for the third quarter, mainly due to the particularly strong development of business in Europe and America.

On a preliminary basis, Group sales rose by 40% currency-adjusted compared to the same period of the previous year. In group currency, sales grew by 42% to EUR 755 million in the three-month period. Compared to the third quarter of 2019, sales increased by 7% after adjustment for currency effects.

Looking ahead, the company raised its fiscal 2021 guidance, and currently expects that it will be able to increase consolidated sales by around 40% after adjusting for currency effects in the 2021 financial year versus the previous forecast of currency-adjusted increase of 30% - 35%.

In addition, the company now projects that EBIT in the 2021 financial year will amount to between EUR 175 million and EUR 200 million compared to the prior guidance range of EUR 125 million - EUR 175 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT