German fashion house Hugo Boss on Thursday reported second-quarter sales rose 5 percent, helped by its strategy of running more of its own stores.
Net profit rose 20 percent to EUR62.5 million (USD83.7 million) while sales grew 5 percent to EUR558.9 million, compared with average analyst forecasts of EUR61.4 million and EUR568 million, respectively.
It saw revenue grow 10 percent in Europe, where it makes more than half its sales, while the Americas recovered to rise 7 percent. Asian growth stayed slow at 2 percent, dampened by China’s slowing economy coupled with a crackdown on bribery.
(Source: CNBC)