Hugo Boss Q1 sales improve but earnings decline

In the first quarter, Hugo Boss increased currency-adjusted sales by 1 percent and 2 percent in reporting currency to 664 million euros (744 million dollars). However, the company said that in the Americas, the challenging US market and the ambitious comparison base of the prior year in particular led to a currency-adjusted sales decline of 8 percent, while currency-adjusted sales in Asia increased by 4 percent. Overall, retail sales on a comp store basis increased by 4 percent in the first quarter and group’s own online business saw currency-adjusted growth of 26 percent. However, sales in the wholesale business decreased.