Fashion retailer Hugo Boss shares pop 5% on better-than-feared first-quarter sales

Hugo Boss shares surged after the luxury retailer reported a smaller-than-expected drop in first-quarter sales and confirmed its annual guidance despite economic uncertainties. The company revealed that revenues dipped 2% to 999 million euros in the quarter, slightly surpassing analysts’ forecasts. Hugo Boss stocks climbed by up to 8.8% following the news and were up 5.3% at 9:33 a.m. London time.

The decline in sales was primarily due to subdued consumer demand in Asia-Pacific, particularly in China, attributed to uncertain consumer sentiment. CEO Daniel Grieder acknowledged the impact of global economic uncertainty on their first-quarter performance. The company maintained its 2025 sales outlook and expressed vigilance amid economic uncertainties, including tariff discussions.

Hugo Boss has been actively working on its strategic transformation to boost consumer demand, with improvements noted in store layouts, product variety, and engagement with younger customers. Analysts have pointed out weaknesses in areas like womenswear, suggesting that acquiring a popular female fashion brand could help drive the company’s growth further.