Hugo Boss Decided To Slow Down The Expansion Of Its Retail Network Appropriately.

By the end of December 31st, the company's fourth quarter pre tax profit (EBITDA) rose by 2% to 171 million euros, less than the company's 3 to 5% target.

According to the disclosure, based on the constant exchange rate, sales increased by 5%, thanks to the increase in tourist arrivals, sales in Europe increased by 10%.

Regional sales in the United States dropped 1%, from the third quarter.

It has been weakening.

Sales in China were the most dismal and sales fell more than double digits.

After the release of the earnings report, the group announced that it had left the group CEO Claus-Dietrich Lahrs for 8 years.

Due to weak sales in China and the United States, the group issued

On February 23rd, the stock price plummeted 20.2%, and the group's market value evaporated 26.2%.

Decided to slow down the expansion of its retail network appropriately, the group decided to close 20 stores in China.

The company expects sales growth to slow down in 2016 and operating profit to decline.

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The net profit and sales volume of Italy luxury group Salvatore Ferragamo 2015 recorded an increase in the fiscal year, but sales in the Asia Pacific region dropped by 3.2%, due to the weak performance in Hongkong and Macao and the complex environment in the mainland of China.

For the future retail development strategy of Salvatore Ferragamo, the group will focus on tourism retail business and plan to open 5-6 sales outlets at the airport.

For the whole year, group net profit increased by 6.7% to 174 million 500 thousand euros, mainly driven by strong sales of leather goods and the performance of European stability, even though operating costs increased over last year.

The total revenue increased by 7.4% to 1 billion 430 million euros.

At fixed exchange rates, sales increased by 1.4%.

As far as Asia is concerned, Hongkong's performance is still negative due to the decrease of tourists from mainland China, and Macao is also suffering from difficulties.

But at the same time, Japan and South Korea attract more mainland Chinese shoppers.