German fashion house Hugo Boss has abandoned its 2015 profit target, Reuters reported Tuesday, citing Hugo Boss chief executive Claus-Dietrich Lahrs. Weakening in economic growth and a crackdown on bribery has tempered demand in China this year, the report said. The company said it sill aimed to reach 3 billion euros (US$4.1 billion) in sales in 2015, but it would no longer be able to reach a 25 percent EBITDA margin. The group reported a margin of 22.6 percent in 2012 and did not give a new time frame for the margin target, it said.
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