Hugo Boss posts Q1 profit fall, but expects growth to pick up

Berlin

GERMAN fashion house Hugo Boss said it expected sales and profit growth to pick up during the rest of the year as it invests in its brand after reporting lower than expected first-quarter net profit.

Hugo Boss's reported net profit fell 7 per cent to 75.6 million euros (S$112.5 million), missing average analyst forecasts for 82 million euros. Sales rose 9 per cent to 668 million euros, just ahead of analyst consensus for 666 million.