Meanwhile, EBIT for the period was up by 6% year-on-year to €69 million with an EBIT margin increase to 6.8%.

Currency-adjusted sales were up by 5% for Boss Menswear, while Boss Womenswear had growth of 7% and Hugo saw an increase of 9%.

The company reported increases across all of its regions, with currency-adjusted revenues growing by 5% in EMEA, particularly thanks to Germany. In the Americas, revenues were up by 11% and the Asia/Pacific region had an increase of 4%. Hugo Boss highlighted that, while Southeast Asia & Pacific posted double-digit growth, sales in China remained below the prior-year level, reflecting overall muted local demand.

Sales for the group’s digital business had an improvement of 10% in the period, while brick-and-mortal retail had a lower level of growth at 3%. Sales for brick-and-mortar wholesale grew by 8% in the quarter.

Looking forward, Hugo Boss expects group sales to grow between 3-6% to around €4.3-4.45 billion in the full financial year. Meanwhile, EBIT is expected to increase by 5-15% to €430-475 million.

CEO Daniel Grieder said: “I am pleased that we delivered further sales and earnings improvements also in the first quarter of 2024. In a volatile market environment, we remain focused on rigorously executing our ‘CLAIM 5’ strategy, capitalising on our numerous growth opportunities. By leveraging our strong business platform, we remain equally committed to realising further efficiencies. All of this will enable us to continue our profitable growth trajectory also in 2024.”