Mark Langer, the new chief executive of Hugo Boss, said the German fashion house would close another 20 stores and refocus its U.S. business as it cut its full-year outlook following a slump in second-quarter profits.
Germany's Hugo Boss will seek to cut costs by renegotiating rents, shutting stores and shifting marketing spending back to its core menswear business after quarterly sales and profits fell short of expectations.
German fashion house Hugo Boss is closing outlets in China and will review its global store network as it tries to revive its fortunes following the departure of its Chief Executive last month after a profit warning.
Hugo Boss Chief Executive Claus-Dietrich Lahrs is stepping down after eight years at the helm of the German fashion house after the share price tumbled following a profit warning on weak sales in China and the United ...
German fashion house Hugo Boss reported second-quarter sales that rose more than expected due to a rebound in Europe and last year's relaunch of its website, although higher rebates weighed on its gross margin.