Outlook 2026
- Currency-adjusted Group sales now expected to decline in the high single-digit percentage range
- EBIT expected to range between EUR 250 million and EUR 300 million
- Updated outlook reflects higher non-cash D&A expenses for IT assets in light of rapidly evolving AI and technology developments, as well as softer demand assumptions for Q4 amid elevated market uncertainty
- Trade net working capital is now expected to amount to around 21% of Group sales, reflecting lower trade payables following adjustments to supplier payment terms
- Capital expenditure is now anticipated to range between 4% and 5% of Group sales, including the strategic acquisition of a previously leased logistic property
- Free cash flow in 2026 is now expected to remain below the level originally anticipated
Key developments Q3 2026
- Group sales decline 5% currency-adjusted in Q3 amid ongoing strategic realignment and macroeconomic headwinds (YTD: –7%)
- Gross margin improves strongly by 220 basis points to 63.3%, driven by the execution of CLAIM 5 TOUCHDOWN initiatives
- EBIT declines to EUR 81 million with an EBIT margin of 8.6%, reflecting operating deleverage (YTD: EUR 175 million; 6.4%)
- Free cash flow before leases increases to EUR 155 million, supported by a 14% reduction in inventories year over year
Daniel Grieder, Chief Executive Officer of HUGO BOSS: “In the third quarter, our top-line performance reflected both the deliberate strategic realignment of our business and a persistently subdued consumer environment. At the same time, we made further progress in improving our gross margin and operating efficiencies. With demand likely to remain volatile in the fourth quarter, we are adjusting our full-year 2026 outlook to reflect a more realistic assessment of the market environment. Our strategic direction, however, remains unchanged. We are convinced that CLAIM 5 TOUCHDOWN addresses the right priorities and lays the foundation for the next phase of HUGO BOSS. While the full benefits of the related initiatives will take time to materialize and we recognize that there is still work ahead of us, they are fundamentally strengthening our business. We remain focused on the long term: building a more resilient, more profitable HUGO BOSS and creating sustainable value for our shareholders."
If you have any questions, please contact:
Media Relations
Carolin Westermann
Senior Vice President Corporate Communications
Phone: +49 7123 94-86321
E-mail: carolin_westermann(at)hugoboss.com
Investor Relations
Lena Biberacher
Head of Investor Relations
Telefon: +49 7123 94-84272
E-Mail: lena_biberacher(at)hugoboss.com
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