Hugo Boss Reaffirms 2023 Outlook amid Luxury Downturn, Shares Rise

FILE - 08 March 2022 - The logo of the Hugo Boss fashion group, taken at an outlet store at the company's headquarters in Metzingen. dpa
FILE - 08 March 2022 - The logo of the Hugo Boss fashion group, taken at an outlet store at the company's headquarters in Metzingen. dpa
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Hugo Boss Reaffirms 2023 Outlook amid Luxury Downturn, Shares Rise

FILE - 08 March 2022 - The logo of the Hugo Boss fashion group, taken at an outlet store at the company's headquarters in Metzingen. dpa
FILE - 08 March 2022 - The logo of the Hugo Boss fashion group, taken at an outlet store at the company's headquarters in Metzingen. dpa

Hugo Boss on Thursday reaffirmed its full-year outlook after posting quarterly results in line with analysts' expectations, supported by strong demand for its products despite a broader downturn in the luxury sector, Reuters reported.
The German fashion house reported a 15% rise in third-quarter sales to 1.03 billion euros ($1.09 billion), spurred by the launch of its fall/winter 2023 collections in August. Analysts had forecast sales of 1.02 billion euros in a poll provided by the company
"Hugo Boss remains one of the few fashion brands still growing in double-digits," Citi analysts said in a note to investors, citing successful product design and diversification and effective marketing among other factors.
Shares were up 4.8% at 0920 GMT. As of Wednesday's close, the stock was 27% off their highest price so far this year, which was reached in July.
The luxury sector, hit by slowing demand for fashion and accessories particularly in the US and Europe, has been further hampered by a slow start to the European fall/winter season amid unusually warm weather.
Hugo Boss, however, had started the fourth quarter strong, CEO Daniel Grieder told reporters in a call.
The company reiterated its annual guidance for sales of 4.10-4.20 billion euros and an operating profit of 400-420 million euros, corresponding to 20%-25% growth.
Its quarterly earnings before interest and taxes (EBIT) rose 12% to 103 million euros, matching analysts' estimate of 102 million euros.



Fashion Commission Concludes Fashion Performance, Modeling Course in Riyadh

Fashion Commission Concludes Fashion Performance, Modeling Course in Riyadh
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Fashion Commission Concludes Fashion Performance, Modeling Course in Riyadh

Fashion Commission Concludes Fashion Performance, Modeling Course in Riyadh

The Fashion Commission closed out the Fashion Performance and Modeling course, delivered in partnership with globally renowned fashion institution Istituto Marangoni.

Taking place in Riyadh, the program was designed to equip aspiring models and fashion talent with both the theoretical foundation and practical tools required to succeed in the global fashion industry.

The curriculum blended classroom instruction with immersive, hands-on experiences across key topics such as the history of fashion, fashion styling, body language, performance techniques, and live project development.

The course ran across two phases: May 18–29 and June 15–26, and was hosted at FCR in the JAX District, SPA reported.

Upon successful completion of the program, trainees received an official Certificate of Achievement from Istituto Marangoni, recognizing their participation in a world-class educational experience.

As part of the Fashion Commission’s broader mission to support the creative industries and expand regional opportunities in modeling, this course helps develop local talent, foster professionalism, and elevate Saudi Arabia’s presence within the international fashion ecosystem.