German fashion house Hugo Boss April-June FY21 sales more than double

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against €275 million in same period of last year. Operating result (EBIT) for the quarter registered profit of €42 million (loss: €250 million), whereas net income improved to €25 million (loss: €186 million).

 

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

“Our strong performance in the second quarter impressively demonstrates the great potential of our two brands Boss and Hugo,” Daniel Grieder, chief executive officer of Hugo Boss AG, said in a press release.

 

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

The company’s business recovered across all regions. Sales from Europe more than doubled to €385 million (€168 million), and more than quintupled in the Americas to €123 million (€25 million). Moreover, sales from Asia/Pacific surged 51 per cent to €104 million (€69 million).

 

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

Known for its mens suits and fabrics, Hugo Boss retail sales escalated 120 per cent to €422 million (€192 million) with vast majority of own retail stores were back in operations towards the end of the quarter. The company’s online business too continued its strong double-digit growth trajectory of 27 per cent. Furthermore, with partners’ strong demand for fall/winter 2021 collections as well as additional business with selected on- and offline retailers in Europe, Wholesale channel recorded 167 per cent jump to €189 million (€71 million) during Q2 FY21.

 

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

Besides sales from Boss brand during the three-month period grew 135 per cent to €541 million (€231 million), Hugo brand too escalated 99 per cent to €87 million (€44 million).

 

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

“We are well prepared to further drive our business recovery also in the second half of the year. Looking ahead, I am convinced that our strong brands, diversified business model, and highly motived teams will enable Hugo Boss to unlock its full potential in the years to come,” Grieder concluded.

 

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

In its forecast for second half of FY21, the German company anticipates sales in 2021 to increase between 30 per cent and 35 per cent (FY20: €1,946 million), with a contribution expected from all regions. EBIT is forecasted between €125 million and €175 million against loss of €236 million in FY20.