German fashion group Hugo Boss reported a better-than-expected quarterly revenue on Tuesday and confirmed its full-year forecast.
The company posted first-quarter revenue of 999 million euros ($1.13 billion), slightly below the 1.01 billion euros a year earlier, but above analysts’ forecast of 974 million euros in a company-provided poll.
The premium fashion retailer said subdued global consumer sentiment continues to weigh on the sector due to uncertainty over US tariffs.
“Following a strong finish to 2024, our performance in the first quarter was affected by the rising macroeconomic uncertainty, which impacted global consumer sentiment and our industry.
Hugo Boss misses Q2 operating profit expectations
Against this backdrop, we continued to place strong emphasis on what we have in our control,“ CEO Daniel Grieder said.
Hugo Boss expects 2025 group sales to remain broadly in line with the prior year, ranging between 4.2 billion and 4.4 billion euros.
Luxury groups have struggled with tighter consumer spending due to slowing demand for fashion and accessories, particularly in the US and China.
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