Trading slows at Hugo Boss

City A.M. Reporter
GERMAN fashion house Hugo Boss reported a bigger than expected decline in first-quarter sales yesterday as sluggish European markets, a slowdown in Asia and a shift to producing four collections a year impacted results.

Sales eased by two per cent to €593m (£502m), while earnings before interest, tax, depreciation, amortisation and special items (Ebitda) fell 11 per cent to €133m.

Chief executive Claus-Dietrich Lahrs confirmed the group’s goals to increase sales and profit by less than 10 per cent this year.