Hugo Boss posts business recovery in Q3, returns to profitability

In the third quarter, Hugo Boss Ag said that the company continued its gradual business recovery. With the vast majority of its own stores back in operation, particularly the group’s own retail business recorded a considerably more robust performance as compared to the first half of the year, with own retail revenues down by 20 percent, currency-adjusted. Overall, group sales amounted to 533 million euros in the third quarter, representing a currency-adjusted decline of 24 percent or 26 percent in the reporting currency, against the prior year period. Despite the overall sales decline, the group generated a positive EBIT of 15 million euros and the net income also returned to positive territory and amounted to 3 million euros.