(Reuters) – Hugo Boss reported third-quarter operating profit slightly above expectations on Tuesday, with a 1 percent rise in currency-adjusted sales amid continued weak demand. in China.
The group’s quarterly earnings before interest and tax (Ebit) amounted to 95 million euros, down 7% from the previous year, but exceeded analysts’ estimates of 90 million euros. euros in a consensus provided by the group.
“In China in particular, the general market environment was affected by continued weak consumer demand, which weighed on the company’s performance,” Hugo Boss said in a statement.
Sales adjusted for currency effects amounted to 1.029 billion euros, up slightly from 1.027 billion euros the previous year and largely in line with market expectations of 1.023 billion euros.
Hugo Boss shares were up 2.5% in pre-market trading according to broker Lang & Schwarz.
(Written by Linda Pasquini and Ozan Ergenay in Gdansk; Etienne Breban; edited by Blandine Hénault)
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
