Hugo Boss holds guidance despite 2% fall in Q1 sales to €999m

Hugo Boss is maintaining its sales outlook for the year, despite having reported that sales fell by 2% to €999m (£850m) during the first quarter of 2025. 

Q1 sales dipped by 1% in both EMEA and the Americas. In the Asia Pacific region, sales dropped by 8% due to persistently weaker demand in China. 

According to the luxury retailer, sales fell due to increased macroeconomic uncertainty weighing on global consumer sentiment. 

As a result, Hugo Boss’ earnings before interest and tax (EBIT) fell by 11.6% to €61m (£51.9m) during the first three months of the year. 

While the group saw online sales rise by 4%, this was partially offset by a 4% fall in physical store sales and a 3% drop in brick-and-mortar wholesale sales. 

During the period, Hugo Boss managed to realise cost efficiencies, such as optimising its global sourcing activities and unlocking further productivity gains. These efforts are said to have supported the group’s top and bottom-line development. 

Despite its latest results, Hugo Boss said it anticipates group sales to remain stable year-over-year, fluctuating between -2% and +2%. The company projects a 5% to 22% increase in EBIT.

Daniel Grieder, chief executive of Hugo Boss, said: “Following a strong finish to 2024, our performance in the first quarter of 2025 was affected by the rising macroeconomic uncertainty, which impacted global consumer sentiment and our industry. 

“Against this backdrop, we continued to place strong emphasis on what we have in our control. We further advanced our most impactful strategic initiatives, such as our Boss One bodywear campaign with David Beckham, to further strengthen the relevance of Boss and Hugo.”

He added: “With our two powerful brands, our resilient supply chain, and our agile organisational platform, I am confident in our ability to successfully navigate the external challenges ahead. We are well positioned and firmly committed to continuing our journey in 2025 and beyond.”