The FINANCIAL — HUGO BOSS reported that its third-quarter net income to equity holders of the parent company decreased year-over-year to 88.5 million euros from 114.7 million euros. Earnings per share was 1.28 euros compared to 1.67 euros. The company said the decline is primarily due to negative exchange rate effects, which impacted the financial result.
Operating result, or EBIT, was down to 132.6 million euros from 152.0 million euros. EBITDA before special items was 168.1 million euros compared to 181.9 million euros, according to Nasdaq.
Sales increased to 744.1 million euros from 716.5 million euros, prior year, due to positive currency effects. The Group’s currency-adjusted sales decreased by 1% in the third quarter. Currency-adjusted sales in the Group’s own retail business (including outlets and online stores) rose by 6%. Currency-adjusted retail comp sales in this channel were stable. Menswear sales were down 1% in local currencies in the third quarter, while womenswear recorded growth of 1%.
The company continues to expect a currency-adjusted increase in sales of between 3% and 5% for the year as a whole. Similarly, operating profit (EBITDA before special items) is expected to be up by between 3% and 5%. The company noted that its outlook is based on the assumption that fourth-quarter own retail comp store sales will remain stable or increase compared with the prior year.
Discussion about this post