Hugo Boss expects gradual improvement for the second half of 2020. The brand has not been able to provide reliable sales and earnings forecast for full-year 2020. Nevertheless, it remains optimistic that the global retail environment will continue to gradually improve. This should also positively impact the Group’s sales and earnings development in the second half of the year and allow it to make further progress along with its overall recovery, which has started at the beginning of May.

In the second quarter of fiscal year 2020, both the retail sector and the apparel industry were severely impacted by the global spread of COVID-19. Temporary lockdowns resulting in widespread store closures, a sharp deterioration in consumer sentiment, as well as international travel restrictions weighed on global industry sales.