Hugo Boss Group achieved record sales in fiscal year 2024. However, profits fell 17 percent. Group sales reached 4.31 billion euros last year, a 3 percent increase compared to 2023, marking the highest level in the company’s history. Adjusted for currency fluctuations, sales also grew by three percent.
Sales for the core BOSS brand increased by 2 percent (currency-adjusted +3 percent) to 3.33 billion euros for menswear and by 3 percent (currency-adjusted +3 percent) to 297 million euros for womenswear. The Hugo label achieved an increase of 4 percent (currency-adjusted +5 percent) to 682 million euros.
In the EMEA region (Europe, the Middle East, and Africa), group sales increased by 2 percent (currency-adjusted +3 percent) to approximately 2.62 billion euros. In the Americas, sales grew by 7 percent (currency-adjusted +8 percent) to 1.02 billion euros.
Business in the Asia-Pacific region was less positive. Due to weak demand in China, sales in the region declined by 4 percent (currency-adjusted -2 percent) to 553 million euros. Global licensing revenues increased by 4 percent to 109 million euros.
Despite a slightly improved gross margin and extensive cost-saving measures, operating profit (EBIT) decreased by 12 percent year-on-year to 361 million euros. Net profit attributable to shareholders declined by 17 percent to 213 million euros.
CEO Daniel Grieder highlighted the successes in implementing the recent reform concept. “Since the introduction of ‘Claim 5’ in 2021, we have made significant progress along our strategic priorities and achieved above-average growth,” he stated, referencing the “strong performance in the final quarter.”
The outlook for the current year is, however, subdued. “Macroeconomic and geopolitical uncertainties remain high in 2025, with subdued consumer sentiment weighing on business performance,” the company acknowledged.
Group sales are therefore “expected to remain largely at the previous year’s level,” according to the company. Revenues are expected to be in the range of 4.2 to 4.4 billion euros, representing a development between -2 and +2 percent.
At the same time, management anticipates progress in earnings. EBIT is expected to reach 380 to 440 million euros in 2025, an increase of 5 to 22 percent compared to the previous year. The EBIT margin, which was 8.4 percent in 2024, is expected to improve to 9.0 to 10.0 percent.
BOSS store Dusseldorf
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