German fashion house Hugo Boss April-June FY21 sales more than double

Fashion

05 Aug `21

2 min read

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against €275 million in same period of last year. Operating result (EBIT) for the quarter registered profit of €42 million (loss: €250 million), whereas net income improved to €25 million (loss: €186 million).

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

“Our strong performance in the second quarter impressively demonstrates the great potential of our two brands Boss and Hugo,” Daniel Grieder, chief executive officer of Hugo Boss AG, said in a press release.

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

The company’s business recovered across all regions. Sales from Europe more than doubled to €385 million (€168 million), and more than quintupled in the Americas to €123 million (€25 million). Moreover, sales from Asia/Pacific surged 51 per cent to €104 million (€69 million).

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

Known for its mens suits and fabrics, Hugo Boss retail sales escalated 120 per cent to €422 million (€192 million) with vast majority of own retail stores were back in operations towards the end of the quarter. The company’s online business too continued its strong double-digit growth trajectory of 27 per cent. Furthermore, with partners’ strong demand for fall/winter 2021 collections as well as additional business with selected on- and offline retailers in Europe, Wholesale channel recorded 167 per cent jump to €189 million (€71 million) during Q2 FY21.

German luxury fashion house Hugo Boss has reported 129 per cent hike in sales to €629 million during second quarter (Q2) of FY21 ended on June 30, 2021, against same period of last year. Operating result (EBIT) registered profit of €42 million against loss of €250 million in Q2 FY20, whereas net income improved to €25 million (loss: €186 million).#

Besides sales from Boss brand during the three-month period grew 135 per cent to €541 million (€231 million), Hugo brand too escalated 99 per cent to €87 million (€44 million).

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