Hugo Boss latest reports confirm luxury slow down globally
German premium group Hugo Boss reports a modes 2 percent increase in revenue for the third quarter of 2013, to a total of 657 million euros compared to the same period last year. The ebitda rose 5 percent to 150 million euros, while net profit increased by 9 percent to 112,9 million euros in Q3. For the full year Hugo Boss expects 6 to 9 percent growth in turnover. With the wholesale channel registering a decrease in the Q3, the company has once again re-itrerated its strategy to minimize wholesale distribution and focus on directly operated store – 50 new mono-brand stores are planned for 2014.