Hugo Boss to see 2021 revenue growth of 30-35%

Hugo Boss expects to see its revenue grow by 30% to 35% this year as customers return to shops with the lifting of covid19 restrictions.
Hugo Boss expects 2021 revenue growth of 30-35%
// Hugo Boss predicts group sales in 2021 to increase between 30% and 35%
// The retailer is set to publish its full second quarter results on 4 August

Hugo Boss expects to see its revenue grow by 30 per cent to 35 per cent this year as customers return to shops with the lifting of coronavirus restrictions.

On a preliminary basis, currency-adjusted group sales climbed by 133 per cent in the second quarter of 2020, more than doubling to £536 million.

In the same time period in 2020, sales were £234.37 million.

“Despite the persisting uncertainties regarding the further development of the pandemic, Hugo Boss is confident that the company’s overall business recovery will continue in the second half of 2021”, the retailer said.

Second-quarter earnings exceeded overall market expectations, Hugo Boss said, adding that on a preliminary basis, sales increased 129 per cent to £535 million, while EBIT stood at £35 million, compared to a loss of £212 million in the year-earlier period.

The company will publish its full second quarter results on 4 August.

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