BERLIN (dpa-AFX) - Shares of Hugo Boss AG (HUGSF.PK) were gaining around 4 percent in the morning trading in Germany after the luxury fashion brand reported Tuesday that its fourth-quarter operating profit or EBIT on a preliminary basis increased 9 percent to 122 million euros from last year's 111 million euros.
Sales grew 5 percent to 825 million euros from prior year's 783 million euros. Currency-adjusted Group sales went up 4 percent in the final quarter.
In total, currency-adjusted sales in the own retail business increased 7 percent.
Thanks to double-digit growth in Great Britain and France, currency-adjusted sales in the region grew 8 percent. In Germany, higher sales in the own retail business were mostly offset by difficult wholesale business. In the Asia/Pacific region, currency-adjusted sales rose 4 percent, while it declined 7 percent in the Americas.
For fiscal 2019, preliminary sales were 2.88 billion euros, an increase of 3 percent.
The company anticipates that EBIT will amount to 333 million euros in 2019, excluding the effects of IFRS 16. This corresponds to a decrease of 4 percent from last year's 347 million euros.
The company is scheduled to release its fiscal 2019 results and outlook on March 5.
In Germany, Hugo Boss shares were trading at 45.59 euros, up 4.35 percent.
Copyright RTT News/dpa-AFX