Hugo Boss sees annual sales up 43%

60
1
Hugo Boss sees annual sales up 43%

BERLIN Reuters -- 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 pre-pandemic levels.

Revenue went up 43% in 2021 to 2.786 billion euros $3.17 billion on a preliminary basis after adjusting for currency effects. Revenues fell to a 1% less than in the year 2019 of 2.884 billion euros.

In October, the company had raised its outlook, forecasting sales to grow by about 40% on a currency-adjusted level, on the back of strong demand in Europe and the Americas.

The operating profit EBIT for the year 2021 is now 228 million euros. Hugo Boss said that the fourth quarter sales were 906 million euros, up 55% from the year before.

The full balance sheet will be published on March 10.