Following our successful finish to 2025, we entered the year with a clear roadmap. However, the market environment has become more challenging over the course of the first quarter, caused by recent developments in the Middle East. Against this backdrop, we focused on what lies within our control and moved decisively into the execution phase of CLAIM 5 TOUCHDOWN. As expected, this is reflected in our top-line performance. In parallel, we successfully leveraged sourcing efficiencies and pricing discipline to deliver a meaningful improvement in gross margin, and maintained cost discipline across the organization. In light of our first-quarter performance, we reaffirm our full-year outlook for 2026.
4,270
EUR million Sales
EUR million Sales
2025
391
EUR million EBIT
EUR million EBIT
2025
499
EUR million Free Cash Flow
EUR million Free Cash Flow
2025
Five strong reasons for an investment in HUGO BOSS:
Two strong brands
BOSS and HUGO – two strong brands with global awareness, that are clearly distinguished by their fashionable style but meet the same high standards in terms of quality and fit, innovation and sustainability. A 24/7 approach ensures that customers are well dressed across all different wearing occasions with casualization and comfort being key. Two clearly distinguished marketing strategies – with a strong focus on digital as well as exceptional events and collaborations – create excitement among consumers and elevate the brand value of BOSS and HUGO.
CLAIM 5 TOUCHDOWN
CLAIM 5 TOUCHDOWN marks the next chapter of our Group strategy, building on the strong foundation established under CLAIM 5. It is designed to further elevate the desirability of BOSS and HUGO, sharpen our global distribution and operational setup, and thereby lay the groundwork for sustainable, profitable growth. Over the medium to long term, the Company aims to outgrow the market and achieve an EBIT margin of around 12%. In line with this ambition, the next years will mark a phase of further strengthening the Company’s operational and financial base.
Profitability improvements
CLAIM 5 TOUCHDOWN paves the way for sustainable, profitable growth. In the coming years, HUGO BOSS will refocus its business to further strengthen brand equity, while also enhancing efficiency, profitability, and long-term value creation. Against this backdrop, 2026 will serve as a year of deliberate realignment, strengthening the business by streamlining processes, refining assortments, and optimizing the distribution network.
Strong free cash flow generation
CLAIM 5 TOUCHDOWN is designed to significantly strengthen cash generation. Average free cash flow is targeted at around EUR 300 million annually (excluding the impact of IFRS 16). Including IFRS 16, this corresponds to a targeted annual average of around EUR 500 million (2025: EUR 499 million). This will be supported by a further normalization in capital expenditure and by disciplined trade net working capital management. The latter will benefit from a planned reduction in inventory levels.
Strong commitment to sustainability
HUGO BOSS is committed to conscious, value-oriented management. Consequently, sustainability is firmly anchored in the Group strategy. The Company’s sustainability targets include decreasing CO₂ emissions by 50% until 2030 and aiming for net zero by 2050. At the same time, circularity is a key pillar of our sustainability strategy. Consequently, we aim for 80% of our apparel products to be designed for circularity by 2030.
