Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Germany’s Hugo Boss Forecasts 2021 Revenue Growth

Schäfer will leave the company on May 31 to pursue a “new professional assignment.”
Hugo Boss store. Shutterstock. (Shutterstock)

German fashion house Hugo Boss said on Tuesday it expects its revenue to grow by 30 percent to 35 percent this year as customers return to shops with the lifting of COVID-19 lockdowns.

Severely impacted by the pandemic, Hugo Boss has focused on expanding its e-commerce business as well as shifting toward casual clothing as customers switched suits and ties for tracksuits when forced to work from home.

“Despite the persisting uncertainties regarding the further development of the pandemic, Hugo Boss is confident that the company’s overall business recovery will continue in the second half of 2021”, the company said, adding that it expects earnings before interest and tax (EBIT) in 2021 of 125 million to 175 million euros.

Second-quarter earnings exceeded overall market expectations, Hugo Boss said, adding that on a preliminary basis, sales increased 129 percent to 629 million euros, while EBIT stood at 42 million euros, compared to a loss of 250 million euros in the year-earlier period.

ADVERTISEMENT

Hugo Boss is due to publish full second-quarter results on Aug. 4.

By Arno Schuetze; Editing by Paul Simao


In This Article
Topics

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Chronicle the ‘Retail Apocalypse’ and emerging retail models, including DTC brands.

What a Fashion Company Is Worth Today

In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.


What’s the Plan at H&M?

The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections