Due to global consumer demand weakening, Hugo Boss has lowered its sales forecast for this year to between 4.22 billion euros ($4.67 billion) and 4.35 billion euros ($4.82 billion), with EBIT expected at 350 million euros to 430 million euros ($388 million to $477 million), down from a previous projection of 430 million euros to 475 million euros. This marks the company’s second sales outlook downgrade this year. Hugo Boss reported record sales of 4.197 billion euros ($4.65 billion) for fiscal year 2023, a 15% YoY increase.