Hugo Boss Sales In The US And China Are Not Good.

Hugo Boss formally lowered its 2015 revenue forecast.

Sales in China and China showed a downward trend, while total sales in Hugo Boss 2015 decreased by 1% in the third quarter and pre tax income fell 8%.

The company adjusted annual sales growth to 3%-5%, which was originally expected to be 5%-7%.

Burberry and LVMH, etc.

Both China and

Regional sales are low, and demand in these areas is much lower than before.

Jason Wu has been the creative director of Hugo Boss for third years. According to previous reports, the brand will start with the fur free policy from the autumn and winter series in 2016.

Related links:

China's luxury brand Hugo Boss said on Tuesday that despite strong signs of a rebound in sales in China and the United States, strong performance in the European market is expected to help the group recover sales and profits in the fourth quarter.

According to reports, Hugo Boss said that according to the trend of data observed in October, store sales will remain stable or even increase, and the performance in the fourth quarter is expected to improve.

As Christmas and New Year holidays are approaching, the fourth quarter is the most important retail season for major brands in a year.

Other European luxury goods groups such as Burberry and LVMH also feel the pressure of China's economic slowdown.

In addition, a stronger dollar also reduces tourists' consumption in the United States.

Hugo Boss expects the UK's performance in the fourth quarter to be exceptionally strong, but the weakness in China and the US market is likely to persist until 2016.

"We expect the difficult situation in these two areas to last until the end of 2015 and even to the beginning of 2016," Group CEO Claus-Dietrich Lahrs said in a conference call with analysts.

Mark Langer, group chief financial officer, said that although China's regional sales fell by 20% in the third quarter, the consumption of Chinese tourists in Europe increased by 50%.

Due to weak regional performance in China, Hugo Boss downgraded its sales and profit forecasts for the 2015 fiscal year last month.

On Tuesday, the group emphasized again that sales and core profits in 2015 were expected to grow by 3%~5% respectively.

As of 2:00 GMT, Hugo Boss shares fell 1.1%, higher than the 0.4% decline in the German medium cap index.

Hugo Boss has invested heavily in expanding the retail network.

In the first 9 months of this year, the group opened 64 new stores with a total number of 1105.

Hugo Boss also gradually shifted the focus of the group from the wholesale market to the other sales channels.

In the third quarter, group retail store sales increased by 6% (calculated in local currency), and remained stable after excluding exchange rate factors: electricity providers (official website) grew by 20% year-on-year, while wholesale sales fell 7% over the same period last year.

The group is famous for its high-end men's wear, and is also trying to expand the women's wear market.

Under the leadership of Jason Wu, the sales of women's clothing increased by 6% in the third quarter (in local currency) while men's wear sales fell by 1%.