Hugo Boss forecasts strong 2022 despite business halt in Russia

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BERLIN, March 10 (Reuters) – German fashion house Hugo Boss BOSSn.DE said it expects to record a healthy increase in sales and profits in 2022 despite a temporary halt to its business in Russia due to the war in Ukraine.

The company known for its smart men’s suits that is now pushing more casual styles said it expects 2022 sales will grow up to 15% to up to 3.2 billion euros ($3.54 billion). Operating profit should rise up to 25% to up to 285 million euros.

Hugo Boss said it was difficult to assess the impact of a further escalation of the war in Ukraine on growth in the sector, noting that Russia and Ukraine accounted for around 3% of group sales in 2021.


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