HUGO BOSS AG / Key word(s): Change in Forecast 23.02.2016 17:05 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- HUGO BOSS expects to continue its growth trajectory in 2016. Group sales are forecasted to increase at a low single-digit percentage rate on a currency-adjusted basis. This will be driven by continued solid growth in region Europe. The challenging market environment in China and the U.S. in particular and continued investments in the Group's growth potential, however, will depress earnings. Year-to-date 2016, sales in the Group's own retail business were weaker than expected mainly in China and the U.S. In light of this development, the Group focuses even more on the implementation of its strategy to strengthen the brand and to drive the transformation to a strictly customer-focused business model. As a result, the Group is adjusting its sales prices in Asia more closely to the levels in Europe and the Americas. In addition, it is limiting the distribution of the BOSS core brand in the U.S. wholesale business in order to elude the impact of a highly promotional market environment as far as possible. Cost adjustment measures will only be able to partially compensate for these effects. As a result, the Managing Board now expects adjusted operating profit (EBITDA before special items) to decline at a low double-digit percentage rate compared to the prior year in 2016. The Group is confident to continue increasing sales in the medium term and to improve its margins again. However, the Group no longer expects to improve its adjusted operating margin (EBITDA before special items in relation to sales) to a level of 25%. The Group will discuss the financial outlook in detail as part of the Press and Analysts' Conference on March 10, 2016. If you have any questions, please contact: Dr. Hjördis Kettenbach Head of Corporate Communication Phone: +49 7123 94-2375 Fax: +49 7123 94-80237 Dennis Weber Head of Investor Relations Phone: +49 7123 94-86267 Fax: +49 7123 94-886267 23.02.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: HUGO BOSS AG Dieselstraße 12 72555 Metzingen Germany Phone: +49 (0)712 394-0 Fax: +49 (0)712 394-2014 E-mail: [email protected] Internet: www.hugoboss.com ISIN: DE000A1PHFF7 WKN: A1PHFF, , Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich; Terminbörse EUREX End of Announcement DGAP News-Service ---------------------------------------------------------------------------