Hugo Boss Q3 sales up 1% despite Asia-Pacific drop
Hugo Boss announced its Q3 financial results, reporting a 1% YoY increase in sales to 1.03 billion euros ($1.08 billion). CEO Daniel Grieder stated that despite ongoing weak consumer sentiment, Hugo Boss achieved steady revenue growth. The company maintained its full-year guidance, forecasting sales growth between 1% and 4%, with total revenue expected to range from 4.2 billion euros to 4.35 billion euros ($4.41 billion to $4.57 billion). For the first three quarters of the year, Hugo Boss reported sales of 3.06 euros billion ($3.22 billion), a 2% YoY increase. However, despite the sales growth, Hugo Boss executives acknowledged that reaching the 5 euros billion target ($5.27 billion) may prove more challenging than anticipated. In Q3, sales in Europe and the Americas grew by 1% and 4%, respectively, while sales in the Asia-Pacific region fell by 7%.