Hugo Boss sees profits up faster than sales in 2019

FILE PHOTO: Jackets are on display in the Hugo Boss section in the Central Universal Department Store (TsUM) in Kiev, Ukraine, May 17, 2017.REUTERS/Valentyn Ogirenko - Copyright VALENTYN OGIRENKO(Reuters)

By Reuters

Published on 07/03/2019 - 08:04•Updated 25/04/2024 - 06:02

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BERLIN (Reuters) - German fashion house Hugo Boss said it expected its operating profit to rise faster than sales in 2019, predicting strong momentum in its online business and Asia.

Known for its smart men's suits, Hugo Boss has introduced more casual and sportswear styles to appeal to a younger audience and invested heavily in its online offer after a bid to go upmarket backfired a few years ago.

The company said it expected a high single-digit percentage increase in operating profit for 2019 and a mid single-digit percentage rise in currency-adjusted sales.

(Reporting by Emma Thomasson; editing by Thomas Seythal)

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