German fashion label Hugo Boss posted total third-quarter net sales of 646 million euros ($833,7 million), following a 14% increase in the second quarter. Net profit stands at 103,6 million euro in the third quarter, down 12% over the year.
Earnings before interest, taxes, depreciation and amortization (Ebitda) fell by 7% to 165 million euros. These results are due in part to a change in the number of collections the house produces each year, meaning wholesale partners will now order in the second and fourth quarters, rather than the third, as they previously did.
"We plan to return to double-digit sales growth in the fourth quarter with our winter business," promised Hugo Boss boss Claus-Dietrich Lars. The group performed best in the United States, where sales grew by 13%.
