BERLIN (dpa-AFX) - German luxury fashion brand Hugo Boss AG (HUGSF.PK) reported that its preliminary group revenues for the second quarter rose 40% to 878 million euros from last year's 629 million euros. It raised its outlook for the current fiscal year.
Currency-adjusted group sales for the second quarter increased 34% compared to the prior-year period.
Quarterly operating profit (EBIT) was 100 million euros, significantly above the prior-year level's 42 million euros. The development mainly reflected the strong Group sales development as well as noticeable improvements in gross margin driven by an overall higher share of full-price sales.
The company now forecasts group sales in fiscal year 2022 to increase between 20% and 25% to a new level of between 3.3 billion euros and 3.5 billion euros. Previously, it expected annual group sales to increase between 10% and 15% to a level of between 3.1 billion euros and 3.2 billion euros.
EBIT in 2022 is now expected to increase between 25% and 35% to a level of between 285 million euros and 310 million euros. Previously, the company projected annual EBIT to increase of between 10% to 25% to an amount of between 250 million euros and 285 million euros.
The company will publish its full second quarter 2022 results on August 3.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Copyright(c) 2022 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX