The German fashion brand said today it expects sales to increase by about 5 % in 2023. That will mark a slowdown from the previous year.
This 5% sales growth outlook marks a slight drop in pace from 2022, despite an expected improvement in the Asia-Pacific region.
The German group faces a tougher comparison base this year due to a redesign of its brand in 2022, where sales had jumped 27% to €3.65 billion.
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In the Asia-Pacific region, Hugo Boss expects sales to grow 10-20% in 2023, up from a 10% increase in 2022.
The company also expects operating profit to increase by 5 to 12 % to between €350 million and €375 million, up from €335 million in 2022. In comparison, analysts had said they expected operating profit of 360 million euros for 2023.
Regarding capital expenditures for 2023, the German firm puts them between 200 and 250 million euros, against 191 million a year earlier. These will partly concern the strengthening of products, brands and digital expertise.
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