Retail in Asia

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Hugo Boss expects better fourth quarter despite weak China

German fashion house Hugo Boss expects strength in Europe to help sales and earnings to a fourth-quarter recovery, it said on Tuesday, though it sees no immediate prospect of a pick-up in China and the United States.

The company said its prediction for a better fourth quarter – the most important retail period because of the Christmas and New Year holidays – is on the assumption that sales at its own stores would remain stable or increase, based on the trend it had observed in October.

Other European luxury goods companies, such as Burberry and market leader LVMH, have also been feeling the pressure from China’s slowing growth while a strong dollar has deterred tourists from shopping in the United States.

 

(Source: CNBC)