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Sales edge up at Hugo Boss

Hugo Boss expects full-year sales to reach the lower end of its forecast, after its second-quarter financials were hit by “persisting challenges” in the US.

For the 13 weeks to 30 June, total group sales were up 2% year on year to €675m (£615m). In Europe, sales were up by 2% on last year as sales increases in the UK and France offset a decline in Germany. 

Asia Pacific performed “particularly” well, and sales were up 8% year on year.

The US, meanwhile, suffered a 3% drop, which the group put down to “an easing of the positive effects of tax reform, a weaker business with tourists and a highly promotional market environment”.

Operating profit rose by 3% year on year to €76m (£69m) in the first quarter.

The group expects full-year sales and earnings to reach the “lower end of the existing outlook” – a mid to single-digit percentage increase – and EBIT to increase at a high, single-digit percentage rate.

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