Metzingen (dpa/lsw) – The Metzingen-based fashion group Hugo Boss is once again raising its forecast for the current year after a better-than-expected third quarter. Despite the economic uncertainties, sales should increase by 25 to 30 percent to 3.5 to 3.6 billion euros, the company announced on Thursday. So far, Hugo Boss had expected a maximum of 3.5 billion euros. The operating result (EBIT) should now increase by 35 to 45 percent to 310 million to 330 million euros. Here, too, the management had previously promised the lower end of the range at best. “We can look back on an extremely successful quarter in which we continued our broad-based growth,” said CEO Daniel Grieder.
Hugo Boss now sees consolidated earnings between 190 and 210 million euros, after previously announced 170 to 200 million euros. The company is reducing its investments with an expected 160 to 190 million euros. So far, 180 to 210 million euros should be put into the business. Hugo Boss did not feel anything from a consumption slump in the third quarter. Sales increased by 24 percent to 933 million euros. All regions and sales channels were able to record double-digit growth rates. EBIT increased by eight percent to 92 million euros. The bottom line is that Hugo Boss earned ten percent more than in the previous year with 58 million euros.
