Hugo Boss Reports Third-Quarter Earnings

(Reuters) – Hugo Boss' third-quarter operating profit slightly beat market expectations on Tuesday, reporting a 1% increase in currency-adjusted group sales amid persistently weak demand in China.

Quarterly earnings before interest and tax (EBIT) were down 7% year-on-year at 95 million euros ($103.3 million), but exceeded analysts' estimates of 90 million euros in a company-provided poll, aided by effective cost management.

Hugo Boss shares were indicated up 2.5% in Lang & Schwarz premarket trade.

Currency-adjusted sales reached 1.029 billion euros, a slight rise from 1.027 billion last year, broadly in line with market expectations of 1.023 billion euros.

The company stated, "Particularly in China, the overall market environment was affected by persistent subdued consumer demand, which in turn weighed on business performance."

($1 = 0.9193 euros)