Retail
Hugo Boss Pares Outlook to Lower End of Range on U.S. Challenges
- U.S. market, already weak in first quarter, hasn’t improved
- Suitmaker says Europe and Asia-Pacific are performing better
Hugo Boss AG said full-year sales and profit will be at the lower end of its guidance range as it struggles to sell its clothes in the U.S.
Revenue in the second quarter, adjusted for currency swings, declined by 5% in the U.S., Boss said Thursday. The suitmaker cited weak sales to tourists and a high level of discounting by apparel retailers, among other factors.