Hugo Boss: raises outlook for 2021
(CercleFinance.com) - The German clothing group's sales increased by 42% to 755 million euros in Q3 2021 (vs.
533 million euros in Q3 2020).
Meanwhile, compared to Q3 2019 (pre-crisis), revenue increased by 7% at constant exchange rates (Q3 2019: 720 million euros), with the company saying that this was mainly due to particularly strong business development in Europe and America.
Hugo Boss achieved an operating profit (EBIT) of 85 million euros in Q3 2021, well above the level posted the previous year (Q3 2020: 15 million euros).
Management has raised its outlook for the current financial year, now expecting to post sales growth of around 40% in FY 2021, expecting all regions to contribute to growth. It now expects FY 2021 EBIT of 175 to 200 million euros (vs. previous forecast range of 125 to 175 million euros).
Copyright (c) 2021 CercleFinance.com. All rights reserved.
533 million euros in Q3 2020).
Meanwhile, compared to Q3 2019 (pre-crisis), revenue increased by 7% at constant exchange rates (Q3 2019: 720 million euros), with the company saying that this was mainly due to particularly strong business development in Europe and America.
Hugo Boss achieved an operating profit (EBIT) of 85 million euros in Q3 2021, well above the level posted the previous year (Q3 2020: 15 million euros).
Management has raised its outlook for the current financial year, now expecting to post sales growth of around 40% in FY 2021, expecting all regions to contribute to growth. It now expects FY 2021 EBIT of 175 to 200 million euros (vs. previous forecast range of 125 to 175 million euros).
Copyright (c) 2021 CercleFinance.com. All rights reserved.