Hugo Boss sales slowing in Asia
Wednesday 01 August 2012
Hugo Boss, owned by Britain's Permira private equity firm, has reported a slowdown in sales growth in Asia.
Sales in the region were up by just 4 per cent in the second quarter – behind the 9 per cent growth of the previous quarter.
But slower growth in the region has been offset by a 17 per cent sales rise in Europe and 11 per cent in the Americas.
The company warned in April that the market in China had deteriorated.
Despite the difficulties in Asia, where China's economy is on track for its slowest full year of growth since 1999, sales in the UK and Germany, in particular, have been strong, where tourists have helped boost demand.
Claus-Dietrich Lahrs, chief executive at Hugo Boss, said: "We are still growing in Asia. But at the moment we too are feeling the slowing in consumer demand that can be seen across the sector."
Underlying profit for the second quarter was up 23 per cent to €78m (£61m). The company forecast a 10-12 per cent full-year profit growth for 2012.
Easter egg hunt horror as mother finds dead body under deck of house
Missing Malaysia Airlines Flight MH370: Wreckage could be found within a week as search reaches 'very critical juncture', says minister
Wheat rust: The fungal disease that threatens to destroy the world crop
Loch Ness Monster found on Apple Maps?
Royal Tour 2014: Is the Duchess of Cambridge the only person ever to climb into a fighter jet wearing a dress and high heels?
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
'Sinful': Video of British Muslims dancing to Pharrell Williams's hit Happy comes under attack
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 Easter egg hunt horror as mother finds dead body under deck of house
- 2 'Natural' energy drink banned for containing erectile dysfunction drug
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 4 Loch Ness Monster found on Apple Maps?
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...