Hugo Boss cuts full year sales forecast
Hugo Boss Group CEO Claus-Dietrich Lahrs said in a statement that the company has been “increasingly feeling the effects of the weak performance of the sector in Europe and uncertainties in Asia” in the past few weeks, and cut its full-year sales forecast down to 6 to 8 percent growth.
Hugo Boss saw its womenswear sales grow 12 percent in the third quarter of the year, reaching a total of 82 million euros (US$103 million). In a statement, Hugo Boss said that Jason Wu’s appointment as Creative Director of has “increased brand awareness and recognition” and that the “strong reception” of Wu’s fall/winter 2014 collection helped boost sales during the period ending September 30.
Despite Wu’s appointment has no doubt been positive for the brand, its impact has been limited by the fact that womens-wear only makes up about a tenth of Boss’s overall sales, which grew 9 percent in the third quarter.