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Luxury Goods

Hugo Boss reaches near-pre-pandemic sales levels

The luxury fashion house also swung to a €42m (£35.8m) operating profit in the quarter, up from operating losses of €250m (£213m) in the same period last year

Hugo Boss has reported a near-return to pre-pandemic sales of €629m (£536m) in Q2 FY21, falling 4% when compared to the same quarter in 2019.

The currency-adjusted figure represents a 133% year-on-year rise, with sales in group currency also climbing 129% from €275m (£235m) in Q2 FY20.

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The luxury fashion house also swung to a €42m (£35.8m) operating profit in the quarter, up from operating losses of €250m (£213m) in the same period last year.

In turn, Hugo Boss has forecasted currency-adjusted group sales to grow between 30% and 35% for the full year when compared to FY20’s €1.95bn (£1.66bn).

It also expected to see operating profits of between €125m (£107m) and €175m (£149m) for FY21, up from FY20’s €236 losses.

Daniel Grieder, CEO at the company, said that the growth “impressively demonstrates the great potential” of its Hugo and Boss brands.

He added: “We are well prepared to further drive our business recovery also in the second half of the year. 

“Looking ahead, I am convinced that our strong brands, diversified business model, and highly motived teams will enable Hugo Boss to unlock its full potential in the years to come.”

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