Q2/H1 2025 developments
- HUGO BOSS achieves revenue improvements in the second quarter (Q2: +1%; H1: 0%)1 against ongoing challenging market environment
- Execution of key brand and product initiatives supports top-line momentum, including successful launch of first Beckham X BOSS collection
- EMEA (Q2: +3%; H1: +1%) and the Americas (Q2: +2%; H1: +1%) return to growth; muted consumer sentiment in China weighs on performance in Asia/Pacific (Q2: –5%; H1: –7%)
- Solid growth in digital (Q2: +7%; H1: +5%) and brick-and-mortar wholesale (Q2: +3%; H1: 0%); momentum in brick-and-mortar retail improves slightly (Q2: –1%; H1: –2%)
- Gross margin remains stable year over year, as further efficiency gains in sourcing compensate for adverse channel mix effects and overall market headwinds
- Operating expenses are below the prior-year level (Q2: –3%; H1: –2%), reflecting ongoing strict cost discipline and additional efficiency gains across key business areas
- EBIT returns to growth (Q2: +15%; H1: +2%), resulting in an EBIT margin increase of 120 basis points to 8.1% in Q2 (H1: +20 bp to 7.1%)
- Robust growth in EPS (Q2: +27%; H1: +9%) supported by improvements in financial result
Outlook 2025
- Full-year outlook confirmed: reported Group sales to remain broadly stable (–2% to +2%); EBIT to increase by +5% to +22%, with EBIT margin targeted between 9.0% and 10.0%
- Macroeconomic volatility to remain elevated, fueled by ongoing tariff uncertainty; subdued global consumer sentiment continues to weigh on industry development
- Key strategic initiatives to support business performance in H2, including launch of new brand campaigns and BOSS Fashion Show in Milan
- Ongoing strong focus on sustainable cost efficiency to drive profitability improvements also in the second half of 2025
Daniel Grieder, Chief Executive Officer of HUGO BOSS: “The second quarter of 2025 was once again marked by a challenging macroeconomic and industry environment, with global consumer confidence remaining at a low level. Against this backdrop, we delivered solid top- and bottom-line improvements, supported by further efficiency gains through our rigorous and sustainable cost discipline. Importantly, we remain committed to our long-term ambition of strengthening brand relevance over short-term gains. The successful launch of our Beckham X BOSS collection in April is just one example of how we are continuing to drive brand momentum, even in a volatile environment.
Based on our performance in the first half of 2025, we confirm our full-year outlook for both sales and operating profit. As we enter the second half of the year, our focus remains on exciting consumers, unlocking additional business opportunities and maintaining a consistent focus on high-quality growth. I am particularly excited about our upcoming Fall/Winter 2025 collections and the launch of our new brand campaigns later this month, which are set to further boost brand relevance.
While we remain vigilant in monitoring macroeconomic developments, including the ongoing tariff discussions, our focus remains on what we can control. Building on four consecutive quarters of strict cost discipline, we are well positioned to drive further sustainable efficiencies. By intensifying our focus on fixed cost management and maintaining disciplined execution, we are confident of strengthening our profitability in the quarters ahead. At the same time, we will not compromise on our long-term strategy of further investing into our brands, product quality, distribution excellence, and our strong operational platform.
Looking ahead, we remain confident in the great potential of our brands and our business model. By continuing to invest in brand-building initiatives, strengthening global relevance, and fostering customer loyalty, we are reinforcing our commitment to long-term profitable growth and creating sustainable value for our shareholders.”
1Revenue-related growth rates shown in brackets are on a currency-adjusted basis.
If you have any questions, please contact:
Media Relations
Carolin Westermann
Senior Vice President Global Corporate Communications
Phone: +49 7123 94-86321
E-mail: carolin_westermann(at)hugoboss.com
Investor Relations
Christian Stöhr
Senior Vice President Investor Relations
Phone: +49 7123 94-87563
E-mail: christian_stoehr(at)hugoboss.com
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