HUGO BOSS Cuts 2026 Profit Outlook as HUGO BOSS XP Reaches 15 Million

HUGO BOSS AG cut its 2026 operating-profit forecast after third-quarter revenue and earnings declined, even as its HUGO BOSS XP loyalty program reached 15 million members, up 15% from a year earlier.

For the quarter ended Sept. 30, revenue was €946 million, down from €989 million in the same quarter last year. Reported earnings per share fell to €0.70 from €0.85, while operating profit declined to €81 million from €95 million.

The company now expects full-year operating profit of €250 million to €300 million, compared with its previous forecast of €300 million to €350 million. It also expects currency-adjusted sales to fall by a high-single-digit percentage in 2026. The revised outlook reflects softer demand assumptions and higher noncash depreciation and amortization expenses for IT assets.

“With demand likely to remain volatile in the fourth quarter, we are adjusting our full-year 2026 outlook,” HUGO BOSS CEO Daniel Grieder said.

Introduced in 2024, HUGO BOSS XP combines conventional loyalty rewards with blockchain-supported digital collectibles. HUGO BOSS planned to transfer members of its earlier loyalty program into XP. The 15 million membership figure does not indicate how many members have collected or used the tokens.