Hugo Boss Reported Preliminary Q4 and Full-Year Sales Rose but Lowered FY24 Forecast

Hugo Boss' (ETR: BOSS) Q4 EBIT was just reported at €121 million ($132.5 million), posting a YoY increase of 17%. Sales rose 13% in Q4 to €1.18 billion on a currency-adjusted basis. All regions contributed to growth, especially the Americas, where sales increased by 18% on a currency-neutral basis to €295 million.

For the full year of 2023, after adjusting for exchange rate effects, the company's EBIT was €410 million, showing an increase of 22% over the previous year, and sales were €4.2 billion, representing an increase of 18% over the previous year.

The results were in line with the company's forecast, which had expected consolidated sales to rise 12% to 15% to a new record of 4.1 to 4.2 billion euros.

The company revised its EBIT forecast for 2023 and expects operating profit to rise 22% to €410 million. Previously, Hugo Boss's EBIT rose by 20% to 25% to 400 million to €420 million. There are good indications for further stock appreciation.