Hugo Boss exceeds 2021 sales target after strong fourth quarter
Hugo Boss said on Tuesday that it had exceeded its full year sales targets after fourth quarter earnings helped propel the German fashion house back to nearly pre-pandemic levels.
The company said revenue rose 43 per cent in 2021 to €2.79bn, on a preliminary basis after adjusting for currency effects. That brings revenue to only one per cent below its 2019 result of €2.88bn.
The company had raised its outlook in October, predicting sales to grow by about 40 per cent on a currency-adjusted level, on the back of strong demand in Europe and the Americas.
Operating profit (EBIT) for 2021 is now seen at €228m. In October, it was raised to €175m to €200m, compared with a previous forecast for €125m to €175m.
Fourth-quarter sales stood at €906m, up 55 per cent from the year before, Hugo Boss said.
The full balance sheet will be published on March 10.