Hugo Boss Posts 27% Revenue Growth In FY22; Warns Of Slower Growth In FY23

German fashion label Hugo Boss AG BOSSY posted a currency-adjusted sales increase of 27% for FY22, to €3.7 billion. For the first time in its history, the company exceeded the €3 billion threshold.
The increase reflects the company's first full year of successful implementation for its CLAIM 5 growth strategy.
The new brand images of BOSS and HUGO ensured continued high momentum throughout the year.
EBIT increased 47% Y/Y to €335 million versus €228 million last year, and the margin was 9.2%, expanding by 100 basis points.
Gross margin of 61.8% was at the level of the previous year.
The management and supervisory board intend to propose to the annual general meeting a dividend of €1.00 per share for the 2022 financial year. This corresponds to an increase of 43% compared to the previous year.
Outlook: Hugo Boss expects sales to grow in the mid-single-digit percentage range for 2023 against the background of ongoing macroeconomic and geopolitical uncertainties.
It sees EBIT to increase by 5% - 12% to €350 million - €375 million.
Price Action: BOSSY shares closed lower by 1.65% at $13.67 on Wednesday.
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