German luxury firm Hugo posts strong Q3 preliminary results

In its preliminary report for the third quarter (Q3) of FY21, German luxury fashion house Hugo Boss has posted 42 per cent sales jump to €755 million over the same period of previous fiscal, while 7 per cent up against Q3 FY19. The company’s sales were driven by strong performances in Europe and the Americas. Operating profit for the quarter surged to €85 million (Q3 FY20: €15 million).

 

In its preliminary report for the third quarter (Q3) of FY21, German luxury fashion house Hugo Boss has posted 42 per cent sales jump to €755 million over the same period of previous fiscal. The company's sales were driven by strong performances in Europe and the Americas. Operating profit for the quarter surged to €85 million (Q3 FY20: €15 million).#

Retail business sales for the Q3 increased 40 per cent on the prior-year level, while 13 per cent on a two-year stack basis, according to the company. Hugo Boss’ own online business recorded double-digit growth of 37 per cent versus the prior-year period, and 127 per cent on a two-year stack basis. Moreover, the wholesale channel sales improved 40 per cent versus the prior-year period, and remained 1 per cent below 2019 levels.

 

In its preliminary report for the third quarter (Q3) of FY21, German luxury fashion house Hugo Boss has posted 42 per cent sales jump to €755 million over the same period of previous fiscal. The company's sales were driven by strong performances in Europe and the Americas. Operating profit for the quarter surged to €85 million (Q3 FY20: €15 million).#

Regionally, sales in Europe advanced 38 per cent over Q3 FY20, and in the Americas, sales almost doubled versus the prior-year level, up 94 per cent. On the contrary, in Asia/Pacific where renewed COVID-19 related restrictions, including temporary store closures, weighed on consumer sentiment in various key markets, sales remained 1 per cent below the prior-year level and 14 per cent below that of 2019. While in China, sales decreased 9 per cent over the same period of last fiscal.

 

In its preliminary report for the third quarter (Q3) of FY21, German luxury fashion house Hugo Boss has posted 42 per cent sales jump to €755 million over the same period of previous fiscal. The company's sales were driven by strong performances in Europe and the Americas. Operating profit for the quarter surged to €85 million (Q3 FY20: €15 million).#

With the strong top- and bottom-line performance during the Q3, Hugo Boss has raised its outlook for fiscal 2021 and expects sales to grow around 40 per cent (FY20: €1,946 million), with contribution expected from all regions. EBIT is expected to be between €175 million and €200 million (loss: €236 million) during FY21.