Hugo Boss reported revenues grew 6 p.c to 1.25 billion euors within the fourth quarter, a tempo extra sturdy than the third quarter, when momentum stalled.
For the total yr, gross sales on the German firm superior 4 p.c, in forex adjusted phrases, to 4.31 billion euros.
The 2024 numbers “underscores the elevated relevance of Boss and Hugo and highlights the nice potential of our two manufacturers,” chief government officer Daniel Grieder asserted in an announcement. “On the similar time, macroeconomic and geopolitical volatility stays excessive, weighing on shopper sentiment and impacting our enterprise efficiency because the starting of the yr.”
Though EBIT — earnings earlier than earnings and taxes — improved within the fourth quarter, rising 4 p.c, Hugo Boss was not capable of submit an improved EBIT for the total yr. This shrank 12 p.c in 2024 and equaled 361 million euros.
The extra informal and smaller Hugo line grew probably the most, with gross sales rising 5 p.c, whereas the corporate’s mainstay, the extra formal Boss menswear line, rose 3 p.c. Boss womenswear additionally grew 3 p.c.
Hugo Boss noticed most progress within the Americas, with gross sales revenues there rising 8 p.c. This mirrored excessive single-digit progress within the U.S. market, which Hugo Boss has put particular concentrate on.
Gross sales within the group’s house market, EMEA — Europe, the Center East and Africa — grew 3 p.c, “pushed by gross sales enhancements in Germany and double-digit progress in rising markets,” the corporate defined in an announcement.
Revenues in Asia-Pacific shrank 2 p.c, primarily on account of muted shopper demand in China, the corporate stated.
The corporate expects 2025 to be one other powerful yr, “marked by ongoing macroeconomic and geopolitical volatility.”
“Subdued shopper sentiment and muted retailer visitors have been weighing on enterprise efficiency because the starting of the yr, with the general market surroundings remaining unsure,” it famous.
Group gross sales in 2025 are anticipated someplace between a fall of two p.c and a rise of two p.c, with ultimate gross sales earnings sitting between 4.2 billion and 4.4 billion euros. This falls in need of the objectives that Grieder put in place in 2021. Hugo Boss was presupposed to have been bringing in 5 billion euros per yr by 2025. Firm executives had already warned that this purpose could be delayed and there could be extra concentrate on profitability.
Hugo Boss predicts EBIT to enhance in 2025 although, growing between 5 p.c and 22 p.c to between 380 million euros and 440 million euros.
