March 12, 2015 / 6:47 AM / 2 years ago

Hugo Boss scraps 2015 sales target

FRANKFURT, March 12 (Reuters) - German fashion house Hugo Boss on Thursday scrapped its sales target for 2015 due to slower luxury spending in Europe and China.

The group now expects its group sales to rise at a mid single-digit rate on a currency-adjusted basis, from 2.57 billion euros ($2.71 billion) in 2014.

In November, Chief Financial Officer Mark Langer already said that achieving the previous target of 3 billion euros, set in 2011, would be difficult.

Hugo Boss proposed raising its dividend payment to shareholders to 3.62 euros per share from 3.34 euros for 2013. ($1 = 0.9486 euros) (Reporting by Kirsti Knolle; Editing by Georgina Prodhan)

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