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Hugo Boss Q3 sales match market expectations

2023-11-02 14:50
(Reuters) -German fashion house Hugo Boss reported third-quarter sales and operating profit in line with market expectations on Thursday, citing
Hugo Boss Q3 sales match market expectations

(Reuters) -German fashion house Hugo Boss reported third-quarter sales and operating profit in line with market expectations on Thursday, citing continued brand momentum across its regions and channels.

Quarterly sales rose 15% to 1.03 billion euros ($1.09 billion) from 933 million a year earlier, roughly in line with analysts' estimate of 1.02 billion in a poll provided by the company.

Earnings before interest and taxes (EBIT) rose 12% to 103 million euros in the quarter, also matching analysts' estimate of 102 million euros.

Hugo Boss confirmed its annual guidance for sales of 4.10-4.20 billion euros and an operating profit of 400-420 million euros, corresponding to 20%-25% growth.

The company said it remained vigilant on current geopolitical tensions and macroeconomic uncertainties, which could drag consumer sentiment in the future.

($1 = 0.9438 euros)

(Reporting by Linda Pasquini in Gdansk; editing by Milla Nissi)