Hugo Boss misses revenue target on China weakness
German fashion brand Hugo Boss has released its financial results for 2024, reporting a 6% increase in Q4 revenue to 1.25 billion euros ($1.36 billion), an acceleration from the previous quarter. Full-year sales rose 4% on a currency-adjusted basis, reaching 4.31 billion euros ($4.68 billion). Full-year EBIT declined 12% to 361 million euros ($393 million). By brand performance, the casualwear line Hugo recorded the strongest growth, with sales up 5%. The core Boss menswear and womenswear lines grew 3% each. Regionally, sales in the Americas increased 8%, while the EMEA region rose 3%. In contrast, sales in the Asia-Pacific market fell 2%, attributed to weaker demand in China. Looking ahead to 2025, Hugo Boss forecasts sales growth to range between negative 2% and 2%.