Hugo Boss sees slowing sales but confident on China growth

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Reuters UK

By Linda Pasquini (Reuters) -German fashion house Hugo Boss on Thursday forecast slower sales and earnings growth for 2023, sending its shares down as much as 4%. The luxury group faces tougher comparison figures in 2023 after it rode the wave of a brand revamp last year. There are also market concerns that China’s reopening will provide only a limited boost due the company’s low exposure to the world’s second biggest economy. Hugo Boss, known for its smart men’s suits, sees mid-single-digit percentage growth in annual sales and an operating profit of between 350 million and 375 million euros …

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