Shares of Hugo Boss fell as much as 11% on Tuesday after the iconic German clothing company said its fourth-quarter earnings would fall short of analyst expectations.
Hugo Boss
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put out preliminary figures showing 2023 sales of €4.2 billion, which was at the top end of its €4.1 billion to €4.2 billion guidance range and in line with the Visible Alpha-compiled consensus. Earnings before interest and tax rose 22% to €410 million, coming in below expectations of €419 million.
The company, which had raised guidance twice during the year, didn’t comment on the 2024 outlook.
This story originally appeared on Marketwatch
