Investors were left unimpressed after operating profit at the German fashion house missed expectations for the fourth quarter.

Earnings before interest and tax came in at about $132 million, below analyst forecasts.

Sales did grow, however.

They were up 13% in the fourth quarter at constant currency to almost $1.3 billion.

Revenue in the Asia-Pacific region rose by a third during the period, with strong improvement in China.

Worldwide sales reached almost $4.6 billion last year, slightly above analyst forecasts.

A brand revamp two years ago helped the luxury group stay resilient in slowing markets like the U.S. and Europe, even though Hugo Boss endured a late start to the European fall/winter season due to unusually warm weather.

It also boosted sales in Asia despite a slow economic recovery in China.

Hugo Boss said it would publish its final 2023 results and an outlook for this year in early March.