Germany's Hugo Boss reports strongest Q1 sales ever for FY22

The strong sales were a result of robust momentum in the company’s largest regions – Europe and the Americas. Compared to the prior year, sales in Europe increased 69 per cent and 56 per cent in the Americas. Sales in mainland China remained 13 per cent below the previous year but were up 12 per cent versus 2019 levels. Overall, revenues in the Asia/Pacific region came in 3 per cent above the prior-year level and only 1 per cent below that of 2019.

“We have made a kickstart to fiscal year 2022, with record first quarter sales. Supported by our bold branding refresh, momentum for Boss and Hugo has accelerated around the globe. Together with the ongoing rigorous execution of our ‘CLAIM 5’ strategy, this provides us with strong tailwinds to achieve record sales in fiscal year 2022,” said Daniel Grieder, chief executive officer of Hugo Boss, in a press release.

The company’s digital business also increased 22 per cent in the first quarter of 2022, with double-digit improvements across all digital touchpoints. This development was supported by the relaunch of Hugo Boss' official channel implemented in January 2022. The group’s brick-and-mortar retail business also recorded double-digit sales, with revenues up a strong 76 per cent.

Hugo Boss expects sales in 2022 to increase between 10 to 15 per cent to a new record level of between €3.1 and €3.2 billion and forecasts net income to increase within a range of 10 to 25 per cent to an amount of €250 to €285 million.

Fibre2Fashion News Desk (HO)