Hugo Boss records strong top&bottom-line improvements in Q2 2021

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Hugo Boss records strong top&bottom-line improvements in Q2 2021

In light of a further strong business recovery, HUGO BOSS recorded significant top- and bottom-line improvements in the second quarter of 2021, thereby exceeding overall market expectations. On a preliminary basis, currency-adjusted Group sales increased 133% as compared to the prior-year period. Also in Group currency, sales more than doubled, up 129% to EUR 629 million in the three-month period (Q2 2020: EUR 275 million). Compared to the second quarter of 2019, the decline in Group sales was therefore limited to 4% only, currency-adjusted.

Business recovery was clearly noticeable across all regions. While currency-adjusted sales more than doubled in Europe (+130%) and more than quintupled in the Americas (+416%), currency-adjusted revenues in Asia/Pacific were up by 51%, as compared to the prior-year period. Consequently, on a two-year stack basis, currency-adjusted sales in Europe and the Americas remained 4% and 5% below 2019 levels, respectively. In Asia/Pacific, currency-adjusted sales were down 3% as against the second quarter of 2019, with currency-adjusted sales in mainland China up 28% against the prior-year period and 33% on a two-year-stack basis, respectively.

From a channel perspective, HUGO BOSS more than doubled currency-adjusted sales in both own retail (+124%) and wholesale (+170%) as against the prior-year quarter. While own retail sales remained 5% below 2019 levels in the three-month period, wholesale revenues were down 2% on a two-year-stack basis, both currency- adjusted. Within own retail, the Company’s own online business recorded currency- adjusted sales growth of 27% in the second quarter, implying growth of 122% on a two-year stack.