Hugo Boss expects recovery to continue through 2021 By Reuters

BERLIN (Reuters) – German fashion house Hugo Boss said it expected a rebound in its business to continue in the second half of the year as sales almost recovered to pre-pandemic levels in the second quarter.

“We are well prepared to further drive our business recovery also in the second half of the year,” said new Chief Executive Daniel Grieder, the former Tommy Hilfiger boss who is due to present his strategy later on Wednesday.

Hugo Boss, which had already reported preliminary second-quarter results last month, said sales were just 4% below levels recorded in 2019 and just 3% down in the Asia-Pacific region, where sales jumped 51% in the quarter.

It reiterated that it expects currency-adjusted group sales in fiscal year 2021 to increase by between 30% and 35%.