Hugo Boss shares slump as Q4 earnings miss forecasts

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Sharecast News | 16 Jan, 2024

20:57 05/11/24

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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

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