AFP
Oct 30, 2008
German retailer Hugo Boss cuts 2008 targets owing to slowdown
AFP
Oct 30, 2008
BERLIN, Oct 30, 2008 (AFP) - The German fashion company Hugo Boss said on Thursday, October 30 that its nine-month net profit had fallen and dropped its forecasts owing to the economic slowdown.
 Hugo Boss fall-winter 2008/2009 campaign |
Hugo Boss net profit fell by 17 percent from the first nine months of 2007 to 128 million euros (168 million dollars), even though sales gained 3.0 percent to 1.36 billion euros, it said in a statement.
"In the context of a considerable decline of retail sales in important regions during the second half of 2008," the company said that full year sales growth would not fall within the previously forecast range of six-eight percent.
Hugo Boss also said it would not increase core earnings this year, but that on the contrary, they were expected to fall to between 210-220 million euros.BERLIN, Oct 30, 2008 (AFP)
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