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Hugo Boss sales, profit helped by China, Britain
May 3, 2017 / 5:47 AM / 7 months ago

Hugo Boss sales, profit helped by China, Britain

BERLIN, May 3 (Reuters) - German fashion house Hugo Boss reported a better-than-expected increase in first-quarter sales and net profit on Wednesday, helped by a recovery in China as well as growth in Britain, where the weak pound has boosted tourist spending.

Hugo Boss said net profit rose 25 percent to 48 million euros ($52 million) on sales up 1 percent to 651 million euros, beating average analyst forecasts for 46 million and 641 million respectively, according to a Reuters poll.

The results add to signs of a pickup in demand for luxury goods, particularly in China, with companies including LVMH , the world’s biggest luxury goods group, and Hermes recently reporting a recovery.

$1 = 0.9152 euros Reporting by Emma Thomasson; Editing by Maria Sheahan

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