Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Hugo Boss pares outlook due to tough U.S. market

Hugo Boss pares outlook due to tough U.S. market
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)
Euronews logo
Text size Aa Aa

BERLIN (Reuters) – Hugo Boss <BOSSn.DE> expects full-year sales and earnings to come in at the lower end of its forecasts due to challenges in the U.S. market, despite strong sales growth in China, the German fashion house said on Thursday.

Second-quarter operating profit rose 3% to 76 million euros (£69.29 million) on sales up a currency-adjusted 2% to 675 million euros – shy of average analyst forecasts for 79 million and 677 million.

Sales fell 3% in the Americas, which Hugo Boss blamed on the easing of the positive effects of tax reform, weaker business with tourists and a highly promotional market.

Hugo Boss said it now expects 2019 currency-adjusted sales growth to be at the lower end of an outlook for a mid single-digit percentage rise, and operating profit to be at the lower end of its forecast for a high single-digit percentage increase.

(Reporting by Emma Thomasson; Editing by Michelle Martin)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.