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Hugo Boss cuts outlook on poor sales in China, USA
October 15, 2015 / 4:37 PM / in 2 years

Hugo Boss cuts outlook on poor sales in China, USA

BERLIN, Oct 15 (Reuters) - German fashion house Hugo Boss cuts its 2015 sales and profit outlook on Thursday as a slowdown in China and the United States took its toll on its third-quarter results.

Hugo Boss said on Thursday it now expected sales and earnings before interest, tax, depreciation and amortisation (EBITDA) and special items to each rise by between 3 and 5 percent on a currency-adjusted basis.

The group had previously expected a mid single-digit percentage rise in currency-adjusted sales this year and EBITDA to rise 5-7 percent.

London-listed rival Burberry also cut its first-half forecast earlier on Thursday due to a sharp sales slowdown in China and Hong Kong.

Reporting by Victoria Bryan; Editing by Georgina Prodhan

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