HUGO BOSS’ Post

German premium fashion brand HUGO BOSS has adjusted its financial outlook for fiscal year 2024, as sales fell in a challenging second quarter. Find out more below. #fashionnews #HugoBoss #financials #outlook #retailsales #retailnews

HUGO BOSS affirms full-year 2024 outlook after strong Q3 results. The recent quarter was marked by significant developments for BOSS and HUGO, including the launch of their Fall/Winter 2024 collections, a successful fashion show at Milan Fashion Week, and the introduction of the HUGO BOSS XP loyalty program, which strengthened customer engagement. These outcomes demonstrate effective execution of the “CLAIM 5” strategy and highlight the strong brand presence of BOSS and HUGO. Third quarter highlights include: - Group sales rose 1% in a volatile market, driven by a 4% increase in the Americas and 1% in EMEA. - Operating expenses stayed stable, demonstrating our commitment to cost efficiency. - EBIT reached EUR 95 million, translating to an EBIT margin of 9.3%. - Free cash flow improved to EUR 40 million. Hugo Boss stated that their strong focus and resilience in the third quarter bolster their confidence in meeting their financial targets for 2024. Read full report: https://lnkd.in/gaCx46yn #HugoBoss #News #Q3

Hugo Boss profit undershoots in Q2 as China and UK both disappoint(2024)     bonyadi magazine              Hugo Boss profit undershoots in Q2 as China and UK both disappoint Hugo Boss disappointed on Thursday with the German upscale fashion giant reporting Q2 operating profit below market expectations. That followed it cutting its full-year sales and earnings forecasts last month due to consumer demand remaining sluggish             Analysts on average had expected it to make €81.9 million in Q2 earnings before interest and tax (EBIT) but the figure came in at €70 million, down 42% year on year         The company itself remained relatively upbeat and said in its results report that it saw “further revenue improvements in [the] first half despite [a] challenging market environment driving additional market shares for Boss and Hugo               But there’s no getting away from the fact that while revenue was up 3% in H1, it was down 1% in Q2       On the plus side, growth continued in physical store wholesale in both H1 (+7%) and Q2 (+5%), as well as on hugoboss.com (H1 +3%, Q2 +3%). But physical retail revenues in H1 were flat and in Q2 they dropped 2%      https://lnkd.in/d8Vam7aA

Hugo Boss increases sales by 5% in the first quarter. The fashion brand Hugo Boss has increased its sales by 5% in the first quarter of the year, reaching 1,014 million euros in a challenging macroeconomic and geopolitical context, according to the German multinational. Specifically, the operating profit (Ebit) of the brand increased in this period by 6%, to stand at 69 million euros. OptimaRetail.EU: Experts in worldwide #Retail #maintenance and #repairs - SMART FACILITY MANAGEMENT  #RetailInnovation #FutureTrends #OptimaRetail #facilityManagement #PreventiveMaintenance #ReactiveMaintenance #NewsOptimaRetail

Retail needs a reset to engage and create high value for consumers. To be profitable, it must become #digital and #experiential while putting #sustainability at the core of its strategy. HUGO BOSS retail transformation is a successful case study! Would you like to learn how we can help your brand transform your stores into conversion powerhouses and authentic experiential spaces? We are experts in #Fashion and #Sporting Goods retailers.

𝐅𝐑𝐎𝐌 𝐀 𝐁𝐎𝐑𝐈𝐍𝐆 𝐅𝐀𝐒𝐇𝐈𝐎𝐍 𝐑𝐄𝐓𝐀𝐈𝐋𝐄𝐑 𝐓𝐎 𝐀𝐍 𝐄𝐗𝐂𝐈𝐓𝐈𝐍𝐆 𝐁𝐎𝐒𝐒! If you've been tracking the progress of the German-based fashion group HUGO BOSS over the past three years, you'll be astounded by their ability to meet and surpass expectations. Despite the formidable hurdles posed by the retail industry landscape and global political dynamics, this remarkable feat has been achieved. 2021-23 financial facts are: 🚀Sales growth +150% 🔝EBIT growth +180% 💰Net Income growth +187% In 2023, HUGO BOSS achieved a sales milestone of € 4.2Bn, more than 50% of which was generated in its #retail channel and 25% on brick-and-mortar wholesale. Furthermore, the store's productivity is forecasted to increase by 3% yearly. What is the magic formula for its retail success? In short, a strategy that focuses on: 𝑩𝒓𝒂𝒏𝒅-𝑺𝒑𝒂𝒄𝒆: A reshape, redesign, fresher look, a new colour pallet that represents the company's heritage brand but is closer to a younger consumer and transforming stores into places that define the new look of the brand. The results are 🤩customer engagement and 📈footfall increase. 𝑷𝒓𝒐𝒅𝒖𝒄𝒕: keeping an accessible premium positioning but focusing on a lifestyle collection, adding new lines of innovation and creativity while increasing sustainability from the design to the fabrics. This results in 🛍️units per ticket increase and in-store sales and productivity boost🚀. 𝑬𝒙𝒑𝒆𝒓𝒊𝒆𝒏𝒄𝒆: Enhancing the consumer journey in-store through an attractive and comfortable environment, straightforward layout, digital selling touch points, and dwell spaces, among other personalised services. The results are a 💳conversion rate increase and enhanced 😀customer satisfaction (NPS). 𝑷𝒆𝒐𝒑𝒍𝒆: Investing in teams to enhance motivation, development and retention, creating a culture of service that translates to customer satisfaction. This results in enhancing 💫consumer service, increasing 🙋🏼♀️staff productivity and 📉reducing costs. These four elements are critical for retail stores to #engage with #consumers and #connect with them emotionally, creating high value for them and, consequently, sustainable #growth and #profitability for the brand. The pinnacle of BOSS retail transformation is reflected in the 𝐿𝑜𝑛𝑑𝑜𝑛 𝐻𝑎𝑙𝑜-𝐹𝑙𝑎𝑔𝑠ℎ𝑖𝑝 𝑠𝑡𝑜𝑟𝑒 𝑎𝑡 𝑅𝑒𝑔𝑒𝑛𝑡 𝑆𝑡𝑟𝑒𝑒𝑡. The brand has implemented its first "𝐁𝐎𝐒𝐒 𝐁𝐀𝐑" experiential space on the ground floor, visible from the store entrance. The bar becomes an attractive hook for consumers to enter the store while creating a warm and relaxing environment during the shopping process. To have occupied a third of the sales space on the ground floor at its Regent Street store, one of the top global high streets in footfall, is indicative of BOSS's transformation direction. The future of retail is #digital, #experiential and #sustainable. Retail Consulting & Advisory Services Ltd. #consulting #retail #fashion #sport

HUGO BOSS "Hugo Boss lowers annual forecast below market expectations - weak quarter" from MarketScreener "Fashion retailer Hugo Boss is more pessimistic about the year as a whole after a disappointing second quarter. The company announced late Monday evening that sales in 2024 are only expected to increase by one to four percent to 4.20 to 4.35 billion euros. This means that the upper end of the range is below the market expectation of 4.37 billion euros. Previously, Hugo Boss had expected a three to six percent increase in sales. In its new forecast, the company assumes that currency effects will have a slightly negative impact on sales development in 2024." It's not about being more pessimistic, it's about being realistic. We said it one year ago with my estimated colleague Pamela Danziger on a Forbes article that you can read in link in comments Once again "Elevation" in a short time cannot happen. It takes 100 years to elevate a brand, if you are a great manager/entrepreneur Burberry case was just the beginning...it's a domino effect

Susanna Nicoletti and Pamela Danziger, in addition to your insightful Forbes article, I've also shared my perspective on HUGO BOSS's missed opportunities with their executive team when I worked with them back in 2016/2017. More recently, with Daniel Grieder, I highlighted areas where they're leaving close to a billion euros on the table annually. 💡 Tip: They were incredibly close to unlocking this potential during their collaboration with JASON WU LLC. Unfortunately, they didn't fully capitalise on it. It is still not too late. As the old adage goes, "You can lead a horse to water, but you can't make it drink." #StrategicDetective #CustomerExcellence #LuxuryBrands #BusinessGrowth #MissedOpportunities #BrandStrategy

Hugo Boss profit undershoots in Q2 as China and UK both disappoint(2024)   bonyadi magazine              Hugo Boss profit undershoots in Q2 as China and UK both disappoint Hugo Boss disappointed on Thursday with the German upscale fashion giant reporting Q2 operating profit below market expectations. That followed it cutting its full-year sales and earnings forecasts last month due to consumer demand remaining sluggish             Analysts on average had expected it to make €81.9 million in Q2 earnings before interest and tax (EBIT) but the figure came in at €70 million, down 42% year on year         The company itself remained relatively upbeat and said in its results report that it saw “further revenue improvements in [the] first half despite [a] challenging market environment driving additional market shares for Boss and Hugo               But there’s no getting away from the fact that while revenue was up 3% in H1, it was down 1% in Q2       On the plus side, growth continued in physical store wholesale in both H1 (+7%) and Q2 (+5%), as well as on hugoboss.com (H1 +3%, Q2 +3%). But physical retail revenues in H1 were flat and in Q2 they dropped 2% https://lnkd.in/d8Vam7aA

German fashion giant HUGO BOSS reported that currency-adjusted group sales in Q4 last year grew by 18% to a record €4.2 bn (£3.5bn), and renewed its CEO Daniel Grieder's term after "tremendous success". Read more below. #retailnews #fashionnews #fashion #HugoBoss