Hugo Boss: growth accelerates in fourth-quarter, shares jump
(CercleFinance.com) - Shares of Hugo Boss jumped on Tuesday after the German fashion group reported better-than-expected fourth-quarter sales, with organic growth accelerating slightly.
Based on preliminary figures, group sales grew by 5% in local currencies to 735 million euros in the last three months of 2017, with the group's own retail business being up by 7% on a comparable store basis.
By comparison, the consensus was looking for just 3% growth.
"Hugo Boss unveiled sound fourth-quarter sales figures, even though EBITDA will be slightly below expectations," analysts at Invest Securities said this morning.
The Metzingen-based fashion house said it expects that EBITDA before special items will be pretty much the same in 2017 as in 2016.
However, investors seem to be focusing on positive comments.
"We achieved our goals for 2017", said chief executive Mark Langer. "The final quarter was particularly pleasing," he added, noting that double-digit growth in the US was "encouraging."
Hugo Boss shares were up 3.7% at 75.1 euros in Frankfurt after the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Based on preliminary figures, group sales grew by 5% in local currencies to 735 million euros in the last three months of 2017, with the group's own retail business being up by 7% on a comparable store basis.
By comparison, the consensus was looking for just 3% growth.
"Hugo Boss unveiled sound fourth-quarter sales figures, even though EBITDA will be slightly below expectations," analysts at Invest Securities said this morning.
The Metzingen-based fashion house said it expects that EBITDA before special items will be pretty much the same in 2017 as in 2016.
However, investors seem to be focusing on positive comments.
"We achieved our goals for 2017", said chief executive Mark Langer. "The final quarter was particularly pleasing," he added, noting that double-digit growth in the US was "encouraging."
Hugo Boss shares were up 3.7% at 75.1 euros in Frankfurt after the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.