Hugo Boss Q3 operating profit beats expectations

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

Quarterly earnings before interest and tax (EBIT) were down 7% on the year at 95 million euros ($103.3 million), but came in above analysts’ estimate of 90 million euros in a company-provided poll, helped by cost management, it said.

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

Currency-adjusted sales were 1.029 billion euros, slightly up from the 1.027 billion last year and broadly in line with market expectations of 1.023 billion euros.

“Particularly in China, the overall market environment was affected by persistent subdued consumer demand, which in turn weighed on the business performance,” the company said in a statement.

($1 = 0.9193 euros)