(News Bulletin 247) – Hugo Boss announces ‘record’ results for 2022 and Group revenue adjusted for currency effects of 3.7 billion euros, up 27%.
Despite significant investments in the business, EBIT increased by 47% to EUR 335 million driven by strong headline momentum.
As a result, the group’s EBIT margin increased significantly, by 100 basis points, to a level of 9.2% (2021: 8.2%). At the same time, the group’s gross margin remained stable at 61.8%.
“Thanks to the rigorous execution of our ‘CLAIM 5’ strategy, we have made 2022 a banner year. Our rebranding has reinforced the strength of the Boss and Hugo brands and laid a solid foundation for us to continue to realize our potential,” comments Daniel Grieder, CEO of Hugo Boss.
The continuation of this strategy remains the main objective in 2023. The group aims to grow sales at a mid-single digit percentage rate and increase EBIT by +5% to +12% to reach a level of 350 million euros to 375 million euros.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
