The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
FRANKFURT, Germany — Hugo Boss AG, the ailing German clothier, said earnings rose as its turnaround took shape and the company kept a tight grip on costs.
Adjusted operating profit advanced 4 percent in the three months through March, the company said in a statement Wednesday. Boss reiterated the measure will rise or fall as much as 3 percent this year.
Boss is seeking to revive under the leadership of Mark Langer, the former finance chief who was promoted to chief executive officer a year ago. In November, Langer said the company will return to growth in 2018 as it eliminates brands, slows down store expansion and sells more apparel online.
Sales in the quarter advanced 1 percent to €651 million ($711 million), helped by gains in Europe and Asia, ahead of the average analyst estimate of €641.4 million collected by Bloomberg.
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The shares have advanced 19 percent this year, compared with a 12 percent gain for Germany’s MDAX benchmark index for medium-sized companies.
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