Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
On Tuesday, April 25, 2023, Hugo Boss Shop in Berlin, Germany.
Bloomberg | Gets the image
Shares Huga chief On Tuesday, after he published a decrease in sales in the first quarter and once again confirmed his full years, despite macroeconomic and tariff uncertainty.
High -class German retailer said the income decreased by 2% based on currency three months to 999 million euros (1.13 billion), slightly ahead of the analysts of EUR 979 million in the LSEG poll.
The stock in the news increased by 8.8%. The last time was noticed that bidding by 5.13% at about 10:30 am in London.
The weaker sales were headed primarily by the soft demand in the Asia-Pacific region, and, in particular, “Current Consumer Demand in China”, which is due to a more uncertain consumer forecast.
“After a strong finish, by 2024, our speech in the first quarter of 2025 suffered from the growth of macroeconomic uncertainty, which affected the global consumer sentiment and our Galina,” Daniel Grider said in a statement.
The group nevertheless confirmed its forecast in 2025, predicting that the sales for the year would be in line with last year and amounts to 4.2 billion euros and € 4.4 billion.
It adds that after Grider it continues to monitor the economy worldview noted in March This world tensions have already had a prominent impact on demand in the first quarter.
“We are closely watching the macroeconomic events and remain vigilant in the light of increased uncertainty, including current tariff discussions,” he added.
Navigation in the US Tariffs
Consumer goods companies estimate the potentially devastating impact on the US on global supply networks and consumer confidence, with several firms indicate the likelihood of upcoming prices.
The US is the largest single Hugo Boss market, which is approximately 15% of group revenue, although it does not have domestic US production. Almost half (40%) of the group’s exports stem from Europe, while the “average simultaneous percentage of goods” was obtained from China, Grider said on Tuesday.
The CEO stated that consumer confidence in the United States is definitely decreased, “but the situation around tariffs changed daily and that” it is too early to draw conclusions. ” He also noted that the uncertainty over the risks of the US recession and immigration policy mitigated both domestic and tourist costs.
Grider said the company is pursuing several strategic steps to move potential tariffs. These include redirecting products coming from China to the United States and replacing products from other markets, optimizing its global search and price adjustment.
In the note on Tuesday, Citi analysts wrote that any “serious change in an external or economic setting”, which directly or indirectly affects consumer confidence, may present a “risk” to perform Hugo Boss sales.
Hago boss has been promoting his strategic overhaul in recent years as he seeks to revive consumer demand, which, according to Grider, has contributed to his slightly improved productivity in the first quarter.
Yanme Tan, an analyst of the third bridge, said the group has successfully expanded its appeal over the framework of official clothing, pointing to improving store formats, diversification of products and interaction with young consumers.
“However, spheres such as women’s clothing remain a weak place, without outstanding products and an accurate strategy,” she wrote in the note, adding that the acquisition of a fashion brand can help speed up the group’s growth agenda.
