Hugo Boss posts decline in third quarter sales
Hugo Boss has seen its group sales fall by 1% currency-adjusted in its third quarter after facing “persistently challenging” market conditions.
Sales growth of 3% in the Americas largely offset declines of 2% in the EMEA region and 4% in Asia Pacific.
Looking ahead to its full year results, Hugo Boss said it expects both group sales and EBIT to come in towards the lower end of its guidance ranges, with group sales projected between €4.2 billion and €4.4 billion and EBIT between €380 million and €440 million.
Daniel Grieder, chief executive officer of Hugo Boss, said: “Despite ongoing global market volatility in Q3, we remained focused on our strategic priorities, emphasising long-term brand strength over short-term gains.”
He added: “With our two iconic brands, a robust business platform, and the passion and commitment of our global teams, we are well positioned to create lasting value for our shareholders.”
