Hugo Boss AG ended the year on a high note as top-line growth continued to drive earnings in the fourth quarter and helped the company finish ahead of expectations.
The German premium-apparel company said Tuesday that sales rose 31% in 2022, or 27% at constant currency, to 3.65 billion euros ($3.95 billion), while earnings before interest and taxes rose 47% on year to EUR335 million.
This beat analysts’ forecasts for sales of EUR3.62 billion and EBIT of EUR331 million, according to estimates compiled by FactSet. The results also beat company guidance, lifted in November, for sales growth of 25%-30% to at most EUR3.6 billion, and for EBIT growth of 35%-45%.
According to the preliminary figures, sales in the year’s final quarter rose 15% to EUR1.07 billion. Chief Executive Daniel Grieder pointed to continued success from investment in brand campaigns and marketing, driving demand and top-line growth.
The company will set out full 2022 results and guidance for 2023 at an update on March 9.
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