Hugo Boss Cuts Sales And Profit Forecasts For 2015, China'S Market Is In Danger

Affected by the deterioration of the Asian market and the slowdown in the US economy, the German fashion group

The third quarter was slightly lower than expected.

The group announced cuts in sales and sales in 2015.

Its expected annual sales growth rate is between 3%-5%, excluding special items, before tax and depreciation and amortization, from the expected growth of 5%-7% to 3%-5%.

According to the data revealed by the group, sales after the unadjusted exchange rate fell by 1%.

In the euro area, sales rose 4% to 744 million euros (about 827 million 500 thousand dollars).

In terms of direct sales, it faces challenging sales trends, including long-term investment and negative impact on business performance.

Excluding special items, profits before tax depreciation and amortization fell by 8% to 168 million euros (about $186 million 900 thousand).

In addition,

The negative exchange rate changes with the Swiss Franc resulted in a negative cost of 16 million euros (about US $17 million 800 thousand), which affected the financial performance of the group.

Direct battalion has been a growth sector in the past few years, but sales in this quarter are relatively flat.

However, the group said European sales remained strong and consistent with expectations, while Asian and American businesses suffered from the end of the season, which was mainly affected by the decline in Chinese sales, as well as the weakness of the group's own retail business and the US wholesale business, and the weak travel demand intensified.

The German fashion group Hugo Boss will officially announce its third quarter and September fiscal report in November 3rd.