Hugo Boss Q1 sales jump 6%
Sales in China remained below the prior-year level, reflecting overall muted local demand
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Hugo Boss has announced that its sales jumped 6% on a constant currency basis to €1.01bn (£860m) for the three months ended 31 March 2024.
Alongside this, the company’s EBIT also rose 6% up to €69m (£59m) while its EBIT margin was up 10 basis points.
In the EMEA region, its currency adjusted revenues increased by 5%, mainly reflecting robust sales improvements in Germany as well as a double-digit plus in emerging markets.
In the Americas, revenues were up 11% currency-adjusted with all key markets contributing to growth including a double digit uptick in the U.S. market.
Meanwhile, sales in Asia/Pacific were up 4% currency-adjusted in the first quarter. While Southeast Asia and Pacific once again posted double-digit growth. Sales in China remained below the prior-year level, reflecting overall muted local demand.
Daniel Grieder, CEO, said: “I am pleased that we delivered further sales and earnings improvements also in the first quarter of 2024. In a volatile market environment, we remain focused on rigorously executing our CLAIM 5 strategy, capitalising on our numerous growth opportunities. By leveraging our strong business platform, we remain equally committed to realising further efficiencies. All of this will enable us to continue our profitable growth trajectory also in 2024.”
