German fashion group Hugo Boss has today reported a better-than-expected quarterly revenue and maintained its full-year forecast amid increased macroeconomic uncertainties.
The company posted first-quarter revenue of €999m, slightly below the €1.01 billion a year earlier, but above analysts' forecast of €974m, a company-provided pollshowed.
It also expects 2025 group sales to remain broadly in line with the prior year, ranging between €4.2 billion and €4.4 billion.
The premium fashion retailer said subdued global consumer sentiment continues to weigh on the sector due to uncertainty over US tariffs.
"Benefiting from a well-diversified sourcing structure, the company is carefully evaluating potential measures based on currently available information and remains prepared to respond with agility to any potential further changes in trade policy."
US President Donald Trump's sweeping tariffs and uncertainty over his trade policies have sent global markets into a tailspin and significantly dampened investor optimism.
"Following a strong finish to 2024, our performance in the first quarter was affected by the rising macroeconomic uncertainty, which impacted global consumer sentiment and our industry. Against this backdrop, we continued to place strong emphasis on what we have in our control," CEO Daniel Grieder said.
Luxury groups have struggled with tighter consumer spending due to slowing demand for fashion and accessories, particularly in the US and China.
