Hugo Boss confident after turnover doubles

Hugo Boss was able to double its quarterly turnover as shoppers return to stores in droves now that corona measures are easing just about everywhere. The fashion retailer sees its sales climb to almost the level of 2019.

Huge boost

In the second quarter of 2021, the German company’s sales rose by 129 % to 629 million euros, a huge boost after the disaster year of 2020, when sales in the second quarter only reached 275 million euros. Compared to the same period in 2019 – i.e. before the pandemic – sales are now only 4 % behind. Operating profit amounted to 42 million euros, compared to a loss of 250 million euros last year. These preliminary figures will be confirmed on 4 August.

The recovery is taking place in all regions, both in own stores and in the wholesale channel. The fashion group is therefore confident for this financial year and is raising its forecasts. For the full year, Hugo Boss expects a turnover increase of 30 – 35 % and an operating profit of 125 – 175 million euros.