Metzingen, Germany – Fashion retailer Hugo Boss AG held its Q2 2024 Earnings Conference Call on August 1, 2024, discussing its financial results for the second quarter. Present at the call were Christian Stöhr, Vice President of Investor Relations, and Yves Müller, the Chief Financial Officer and Chief Operating Officer.

During the call, Muller highlighted the impact of persistent macroeconomic and geopolitical uncertainties on the luxury and premium apparel industry. The company experienced a slowdown in sales growth, particularly evident in the second quarter due to subdued consumer demand globally. Despite this challenging environment, Hugo Boss managed to limit the decline in sales, demonstrating the resilience of its brands, BOSS, and HUGO.

The company saw a decline in sales of 1% in the second quarter, leading to a 42% decrease in EBIT to €70 million. However, Hugo Boss remains optimistic about its brand momentum, fueled by its strategic initiatives like CLAIM 5, aimed at revitalizing its iconic brands and attracting a broader audience.

Hugo Boss emphasized its commitment to investing in its brands, products, and digital capabilities. The company also announced the launch of the HUGO BOSS XP membership program to enhance customer engagement and loyalty. Additionally, Hugo Boss’s strong presence on social media platforms has helped attract millions of new followers and engage with younger audiences effectively.

Looking ahead, Hugo Boss plans to continue focusing on strategic initiatives to drive growth and improve operational efficiency. The company aims to optimize costs, particularly in non-strategic areas, to navigate the challenging market environment successfully. Hugo Boss also plans to leverage its strong brand presence and global touchpoints to capitalize on growth opportunities in the coming quarters.

Overall, Hugo Boss remains confident in its ability to weather market uncertainties and deliver long-term value to shareholders. With a strategic focus on brand strength, operational efficiency, and customer engagement, the company is well-positioned to drive sustainable growth in the future.

As the global retail landscape continues to evolve, Hugo Boss’s strategic actions and commitment to its brands are expected to drive above-trend growth and strengthen its market position in the years to come.