As Hugo Boss sales sank, yearly forecast got cancelled

Hugo Boss fashion house saw his sales collapse in the second quarter. The group’s turnover fell by almost 60 percent to EUR 275 million due to the consequences of the coronacrisis. As a result, many branches were temporarily closed. Hugo Boss is counting on improvement in the second half of the year.

Below the line, Hugo Boss put a loss in the books. The negative result was 186 million euros, against a profit of 52 million euros a year earlier. Due to the uncertainties surrounding the pandemic, the company does not issue any financial forecast for the whole of 2020.

By the way, the online branch of Hugo Boss did some good business. This is where double-digit sales grew in many regions.