German fashion brand Hugo Boss raises its 2022 outlook following strong Q2

Following a strong second quarter, Hugo Boss has upped its 2022 sales guidance!

The German premium clothing brand has recorded an impressive year-on-year sales rise of 34 per cent in Q2 to clock € 878 million.

Now that’s a good 29 per cent jump when compared to the second quarter of 2019.

The strong numbers have now made the brand raise its sales guidance for FY ’22 to somewhere between 20 per cent and 25 per cent to reach between €3.3 billion and €3.5 billion.

In the previous guidance, the brand had anticipated a sales increase between 10 and 15 per cent (€ 3.1 billion and € 3.2 billion).

EBIT was expected to rise between 25 per cent and 35 per cent to reach between € 285 million and € 310 million.

Hugo Boss has attributed the strong performance to its online growth strategy as well as  branding refresh of its labels (Hugo and Boss).

Founded in 1924, Hugo Boss is one of the largest German clothing companies, with global sales of € 2.9 billion in 2019.