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