Fashion group Hugo Boss exceeds profit targets - share price up

According to initial calculations, EBIT for the fourth quarter rose by four percent to 104 million euros. The Management Board therefore expects the operating return on sales (EBIT margin) to increase by one percentage point to 9.2 percent.

Düsseldorf (Reuters) - The growing demand for Hugo Boss fashion despite inflation and fears of recession has brought the Swabian fashion group a record year.

"Thanks to the extraordinarily strong final quarter, we were even able to exceed our own high expectations," said CEO Daniel Grieder on Tuesday. Turnover in 2022 soared by 27 percent to 3.651 billion euros and the operating result (EBIT) by 47 percent to 335 million euros. Most recently, the Management Board had targeted an increase in turnover of between 25 and 30 percent and an increase in EBIT of 35 to 45 percent.

The news was well received on the stock market. In early trading, the MDax share rose by two percent. Like the luxury goods groups Hermes and LVMH - but also the Spanish Zara parent company Inditex - Hugo Boss has so far not experienced any reluctance to buy.

(Report by Anneli Palmen, edited by Olaf Brenner. If you have any questions, please contact our editorial team at [e-mail] (for politics and the economy) or [e-mail] (for companies and markets).