Luxury fashion retailer Hugo Boss saw profit and sales decline in its third quarter.
EBIT dropped 1% year-on-year to £84.5m over the period, as gross profit slipped 2% to £532.3m.
Group sales fell 1% during the quarter, in the face of “persistently challenging market conditions” for the business.
The company noted that sales improvements in the Americas (3%) largely compensated for revenue declines in the EMEA (-2%) and Asia/Pacific (-4%) regions.
Related Story
Hugo Boss’ bottom line performance was aided by new launches including its Beckham x Boss collection, alongside increased efficiency across sourcing, sales and administration.
Looking ahead, the brand forecast group sales and EBIT to be towards the lower end of its guidance ranges, with group revenues expected to be between £3.7bn and £3.9bn and EBIT between £335m and £388m.
Hugo Boss CEO Daniel Grieder said: “Despite ongoing global market volatility in Q3, we remained focused on our strategic priorities, emphasising long-term brand strength over short-term gains.
“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.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
