BERLIN — Against the background of a global recession, Hugo Boss continued to see sales and earnings decline in the third quarter.
Consolidated net income dropped 24.8 percent to reach 51.5 million euros or $73.6 million, which Boss attributed to restructuring charges related to store and showroom closures and a tightening of the group’s wholesale network, particularly in eastern Europe. All dollar figures are converted from the euro at an average exchange rate for the respective period.
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