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A window display is seen at the Boss store in London, Britain, May 30,2024 (REUTERS/Chris J. Ratcliffe)
GERMAN fashion group Hugo Boss reported a higher-than-expected annual operating profit on Tuesday, despite a challenging market environment.
The company reported earnings before interest and taxes of 391 million euros ($455 million) for 2025, up from 361 million euros a year earlier, and above analyst’s average forecast of 379 million euros in a company-provided poll.
Shares in the company, which are down 2.5 percent since the start of the year, were indicated up 4.4 percent in early Frankfurt trade.
“2025 once again highlighted the rapid transformation of our industry, shaped by technological innovation, evolving consumer preferences, and ongoing macroeconomic and geopolitical uncertainty,” Chief Executive Officer Daniel Grieder said in a statement.
Grieder added that 2026 will be a year of targeted brand and channel realignment for the company, which will temporarily impact top- and bottom-line development.
Hugo Boss launched a new strategy in December last year, aiming to strengthen the brand by improving stores, focusing on high growth categories like shoes and accessories, and developing its womenswear range.
Luxury groups have been struggling with tighter consumer spending, with the sector hit by slowing demand for fashion and accessories particularly in the United States and China.
The premium fashion retailer said it will propose a dividend of 0.04 euros per share for 2025, compared with 1.40 euros a year earlier.
The German company also confirmed its full-year outlook for 2026, which was announced in December last year.
— Reuters
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Credit belongs to: www.manilatimes.net
