Hugo Boss shares slump as Q4 earnings miss forecasts

By

Sharecast News | 16 Jan, 2024

10:20 22/11/24

  • 39.03
  • -0.51%-0.20
  • Max: 39.64
  • Min: 38.61
  • Volume: 26,044
  • MM 200 : 44.87

Shares in Hugo Boss plunged on Tuesday as the German fashion brand’s fourth-quarter earnings missed expectations, despite a sharp rise in sales.

Earnings before interest and tax in the final three months came in at €121m, below expectations of €129m. Sales were up 13% to €1.18bn billion euros, with a 33% surge in Asia-Pacific revenues providing a boost.

Full-year sales hit €4.2bn, up from €3.65bn a year earlier and compared with estimates of €4.19bn.

The company is ploughing millions into a project to improve online sales, expand a warehouse and upgrade its headquarters.

Annual operating profit, or EBIT, was €410m, in the middle of the company's own range of €400m – 420m.

Reporting by Frank Prenesti for Sharecast.com

Last news