85 774
Fashion Jobs
OLD NAVY
Assistant General Manager, Merchandising - Pheasant Run Plaza
Permanent · CHICO
OLD NAVY
Assistant General Manager, Merchandising - Merrimack Premium
Permanent · MERRIMACK
ATHLETA
Assistant General Manager - 18th & 5th
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Arizona Mills
Permanent · TEMPE
GAP
General Manager - Philadelphia Mills
Permanent · PHILADELPHIA
OLD NAVY
General Manager - Shops at Waldorf Center (New Store)
Permanent · WALDORF
OLD NAVY
Assistant General Manager, Merchandising - Triangle Square
Permanent · NEW YORK
OLD NAVY
Assistant General Manager, Merchandising - Northgate Mall
Permanent · CHATTANOOGA
OLD NAVY
General Manager - Coosa Town Center
Permanent · GADSDEN
OLD NAVY
General Manager - Upper Valley Plaza
Permanent · LEBANON
ATHLETA
General Manager - Issaquah Commons
Permanent · ISSAQUAH
ATHLETA
General Manager - 2nd And Pch
Permanent · LONG BEACH
BANANA REPUBLIC
Assistant General Manager - Home
Permanent · TROY
OLD NAVY
Director, CRM, Marketing
Permanent · SAN FRANCISCO
HENKEL
Senior Automation Tech
Permanent · GENEVA
ESSILORLUXOTTICA GROUP
Customer Service Representative
Permanent · EAST SYRACUSE
ESSILORLUXOTTICA GROUP
Customer Service Representative Classic Optical)
Permanent · YOUNGSTOWN
ESSILORLUXOTTICA GROUP
sr. Manager, Business Growth
Permanent · NEW YORK
ESSILORLUXOTTICA GROUP
Associate Manager, Trade Event Marketing
Permanent · DALLAS
ESSILORLUXOTTICA GROUP
Oakley - Specialized Consultant
Permanent · PEMBROKE PINES
ESSILORLUXOTTICA GROUP
Oakley - Sales Supervisor
Permanent · CAMARILLO
ESSILORLUXOTTICA GROUP
Naasc - Material Handler II (Inbound Team Lead)
Permanent · MCDONOUGH
By
Reuters
Published
Jul 31, 2012
Reading time
2 minutes
Download
Download the article
Print
Text size

Hugo Boss says Asia sales growth slows

By
Reuters
Published
Jul 31, 2012

German fashion house Hugo Boss said sales slowed in Asia in the second quarter of the year, although it maintained its outlook for a record year as sales in Europe surged, helped by tourist shoppers.


Photo: Pixel Formula


Demand from Asia has shielded luxury companies from the worst of the European slowdown, but with China's economy on track for its slowest full year of growth since 1999, there are concerns over luxury sales.

Hugo Boss had warned back in April that the market in China had deteriorated.

"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," Ch ief Executive Claus-Dietrich Lahrs wrote in the company's second quarter report published on Tuesday.

Burberry said earlier this month sales had been hit by a slowdown in China, although Hermes and Remy Cointreau have since reported continuing demand for pricy handbags and tipples in emerging markets.

Hugo Boss reported second quarter sales of 485 million euros ($594 million), a rise of 14 percent on a currency-neutral basis, compared with analyst forecasts for 462 million.

Sales rose by 17 percent in Europe, with Germany and the UK strong, by 11 percent in the Americas and just 4 percent in Asia. First-quarter sales in Asia were up 9 percent.

Hugo Boss confirmed a forecast for sales to rise by up to 10 percent in 2012, with growth slowing in the second half as the economy stutters. It said on Tuesday it expected core profit to grow 10-12 percent in 2012.

It reported second-quarter earnings before interest, tax, depreciation, amortisation and special items (EBITDA) of 78 million euros.

© Thomson Reuters 2024 All rights reserved.