Sales were also up on pre-pandemic 2019 by 44% at constant currency, and the company attributed its success to its “CLAIM 5” strategy.
Highlighting the success of its Spring/Summer 2023 collections, which reportedly received an extremely positive response, Hugo Boss shows that sales for Boss Menswear were up by 23% in the quarter, Boss Womenswear up by 28% and Hugo up by 31%.
Regionally, the business saw revenue in EMEA grow by 21% year-on-year on a currency-neutral basis, thanks to strong performances in core markets such as Germany (up by 28%) and France (up by 17%).
Meanwhile, the Americas had a strong result at sales growth of 38% while the U.S. alone was up by 31%. Finally, the Asia/Pacific region achieved currency-adjusted sales growth of 31% and China had an increase of 25%.
By channel, Hugo Boss reported that digital sales were up by 22% on a currency-adjusted basis while its brick-and-mortar retail sales achieved a currency-neutral increase of 26%.
The operating result for the quarter (EBIT) was €65 million, an increase of 63% over the same quarter of 2022, with the EBIT margin up to 6.7%.
Thanks to these strong results, Hugo Boss has reported that its 2023 fiscal outlook has improved and is now expecting consolidated sales to increase by around 10% year-on-year to roughly €4 billion, with EBIT up by 10-20% to €370-400 million.
Hugo Boss CEO Daniel Grieder said: “We have made an extremely successful start to the year after further accelerating brand momentum worldwide. Our strong performance in the first quarter once again underscores the success of CLAIM 5 make another record year for our company and achieve our medium-term sales target of €4 billion this year – and thus significantly earlier than expected.”
