Hugo Boss sales decline, expects recovery towards second half of 2021

In the fourth quarter of 2020, currency-adjusted sales for Hugo Boss decreased by 26 percent, corresponding to a sales decline of 29 percent in group currency to 583 million euros. The company said in a statement that despite the significant sales decrease, Hugo Boss was able to record a positive EBIT of 13 million euros compared to 124 million euros in the fourth quarter of 2019. The company recorded a currency-adjusted sales decline of 31 percent in fiscal year 2020, while in group currency, sales decreased by 33 percent to 1,946 million euros.