Headwinds, but better than expected for Hugo Boss in first-quarter report

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Headwinds, but better than expected for Hugo Boss in first-quarter report
Photo: Ludvig Heiberg Larsen NTB/TT

Operating profit fell sharply in the quarter, down 43 percent to 35 million euros. Analysts, on average, had expected a drop to 27 million euros, according to Bloomberg.

Sales fell 9.4 percent to 905 million euros, compared with the average forecast of 891 million euros.

The conflict in the Middle East led to a clear decline in visitors to clothing stores in the region in March, which contributed to the decline in sales for the quarter, according to Hugo Boss.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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