Maintaining its outlook for the full year, Hugo Boss anticipates group sales to grow between 3 per cent and 6 per cent, reaching between €4.30 billion and €4.45 billion in FY24. The brand expects EBIT to increase between 5 per cent and 15 per cent, ranging from €430 million to €475 million.

In Q1FY24, Hugo Boss reported a 5 per cent rise surge in group sales, reaching €1.014 billion, marking a 6 per cent increase when adjusted for currency fluctuations. This growth was attributed to both the Hugo and Boss brands, across all regions and channels.

Notably, Boss Menswear saw a 5 per cent increase in currency-adjusted sales, while Boss Womenswear experienced a 7 per cent rise. Hugo witnessed an even more significant growth of 9 per cent, propelled by the successful introduction of its new denim-focused brand line, Hugo Blue.

Regionally, EMEA saw a 5 per cent increase in currency-adjusted revenues, driven by strong sales in Germany and emerging markets. In the Americas, revenues rose by 11 per cent currency-adjusted, with notable growth in the US market. However, Asia/Pacific only saw a 4 per cent increase due to sluggish demand in China.

The company's digital business continued to flourish, with a 10 per cent increase in currency-adjusted sales, complemented by a 3 per cent rise in physical store sales. Additionally, physical wholesale sales expanded by 8 per cent, showcasing improved visibility and penetration in key department stores.