LONDON (Reuters) -Mike Ashley's Frasers Group said on Wednesday it has increased its maximum exposure to Hugo Boss to $937 million and reiterated its support for the German fashion brand's strategy and management team. Frasers, which was formerly called Sports Direct and is on a drive to move upmarket, said it now holds 4.9% of Hugo Boss stock directly and a further 26% of stock indirectly via the sale of derivatives known as put options. Frasers first took a stake in Hugo Boss in 2020 and has consistently stated its support for its management.
Here is how Accel Entertainment (ACEL) and Hugo Boss (BOSSY) have performed compared to their sector so far this year.
Hugo Boss said on Tuesday that it had exceeded its full year sales targets after fourth quarter earnings helped propel the German fashion house back to nearly pre-pandemic levels. The full balance sheet will be published on March 10.