The German fashion house, which celebrates its centenary this year, posted a mixed 2023 performance, with record sales but results below analysts’ expectations. The stock market reacted badly to the publication of its provisional figures.
Record sales in the fourth quarter of 2023…but also a record fall on the stock market!
This is the paradoxical pairing achieved by Hugo Boss in the month of January, which also marks its centenary.
On January 15, the German premium fashion specialist unveiled provisional results for the last quarter and the year 2023. The stock market preferred to see the glass as half-empty (worse-than-expected results) rather than half-full (better-than-expected sales).
On the Frankfurt Stock Exchange, Boss broke all records for declines in the Stoxx 600 index of major European stocks. It plunged 11% in the morning of Tuesday January 16, its worst session in two years. This impressive fall wiped out the gains recorded by the company’s shares over the past year.
Record sales
But if Hugo Boss was punished on the stock market, it was not because of its sales, which were exceptional, but because of its disappointing profitability.
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Featured Photo: © Hugo Boss
