Hugo Boss eyes China growth as it returns to profit

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Photo by: Hugo Boss Facebook Page

By: Inside Retail Asia

German fashion house Hugo Boss said it was focused on driving a recovery of its business online and in China amid continuing uncertainty about the coronavirus pandemic as it reported a return to profitability in the third quarter.

Hugo Boss reported quarterly revenue fell a currency-adjusted 24 per cent to 533 million euros ($621 million), missing average analyst forecasts for 553 million, while its operating profit of 15 million euros was slightly ahead of consensus.

The company said sales in Mainland China rose 27 per cent, while online sales jumped 66 per cent, as Hugo Boss launched e-commerce in 24 more markets in June and August.

 

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