The German-based fashion label said in a statement earnings before interest, taxes, depreciation and amortisation and excluding special items will decline by a “low double-digit” percentage this year.
Analysts polled by Bloomberg had expected just a one per cent decline for the period.
Hugo Boss has said it will bring prices in Asia down closer to levels in Europe and the US to try and drive sales.
At US retailers the fashion house will begin curtailing distribution, due to “highly promotional” levels of discounting eating into profits.
Hugo Boss will release its full year financial results on 10 March.