MADRID, 2 May. (EUROPA PRESS) –
The fashion brand Hugo Boss has increased its sales by 5% in the first quarter of the year, reaching 1,014 million euros in a challenging macroeconomic and geopolitical context, according to the German multinational.
Specifically, the brand’s operating profit (Ebit) increased by 6% in this period, reaching 69 million euros.
The firm highlighted that both BOSS and Hugo recorded solid demand during the first quarter, driven by the successful execution of important brand, product and distribution initiatives as part of its ‘Claim 5’ strategy.
Hugo Boss CEO Daniel Grieder has noted that the brand has achieved “further improvements in sales and profits” in this period. “In a volatile market environment, we remain focused on rigorously executing our ‘Claim 5’ strategy, capitalizing on our numerous growth opportunities. By leveraging our strong trading platform, we remain equally committed to achieving greater efficiencies. All of this will allow us to continue our trajectory of profitable growth also in 2024”, he stressed.
In this context, the textile multinational has confirmed its revenue and results outlook for its fiscal year, while specifying that it remains alert regarding the persistently high levels of macroeconomic and geopolitical uncertainty, which are expected to continue weighing on confidence. of the consumer during this year.
In this way, Hugo Boss expects the group’s sales to increase between 3% and 6%, reaching 4.3 billion euros or 4.45 billion euros, while it estimates that Ebit will grow between 5% and 15%. , up to 430 million euros or 475 million euros.
