Q3 2025 developments
- Group sales decline 1% in Q3 amid persistently challenging market conditions (YTD: –1%)1
- Continued execution of strategic initiatives strengthens brand relevance, including successful launch of Fall/Winter collections and BOSS Spring/Summer 2026 Fashion Show
- Sales improvements in the Americas (+3%) largely compensate for moderate revenue declines in EMEA (–2%) and Asia/Pacific (–4%)
- Sustained growth in digital (+2%) and sequential improvements in brick-and-mortar retail (0%); decline in brick-and-mortar wholesale (–5%) reflects timing of deliveries
- Gross margin improves by 100 basis points in Q3, mainly due to efficiency gains in sourcing and lower freight-cost levels
- Operating expenses decline by 3%, reflecting ongoing strict cost discipline and additional efficiency gains
- EBIT remains largely stable (Q3: –1%; YTD: +1%), resulting in an EBIT margin increase of 30 basis points to 9.6% in Q3 (YTD: +30 basis points to 7.9%)
- Solid growth in EPS (+7%) supported by notable improvements in the financial result
- Robust improvements in free cash flow (+63%) mainly driven by increased CapEx efficiency
FY 2025 outlook
- HUGO BOSS confirms its top- and bottom-line outlook for 2025
- In line with market expectations, Group sales and EBIT are expected to align with the lower end of guidance ranges (Group sales: EUR 4.2 billion to EUR 4.4 billion; EBIT: EUR 380 million to EUR 440 million) due to heightened macroeconomic volatility and significant currency headwinds
- Brand and product initiatives such as the latest BECKHAM x BOSS collection launch combined with ongoing efficiency measures in sourcing, sales, and administration are expected to support Q4 top- and bottom-line performance
- HUGO BOSS will provide an update on its “CLAIM 5” strategy on December 3
Daniel Grieder, Chief Executive Officer of HUGO BOSS: “Despite ongoing global market volatility in Q3, we remained focused on our strategic priorities, emphasizing long-term brand strength over short-term gains. Key highlights, including the BOSS Fashion Show in Milan and the second BECKHAM x BOSS collection, further elevated our global brand relevance and supported top-line performance. In this context, we are particularly encouraged by the sequential improvement in our direct-to-consumer business, as both digital sales and retail improved slightly. At the same time, we achieved meaningful efficiency gains, delivering notable gross margin expansion and streamlined expenses. This is clear evidence of the operational excellence and resilience at the core of our business model. Accordingly, we confirm our 2025 top- and bottom-line guidance, while remaining vigilant in navigating ongoing market uncertainties, including high currency fluctuations.
We are confident in our ability to navigate current challenges and seize business opportunities with agility and focus. Our ‘CLAIM 5’ strategy has been pivotal in driving our growth and establishing a strong foundation for long-term success. As the industry landscape evolves, we are sharpening our focus on the strategic priorities that will define the next stage of HUGO BOSS. With our two iconic brands, a robust business platform, and the passion and commitment of our global teams, we are well positioned to create lasting value for our shareholders."
1All revenue-related growth rates 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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