BERLIN — Against a backdrop of uncertain economic conditions in key world markets and a sales slowdown in the second half of the year, Hugo Boss AG has downwardly revised its full-year sales and earnings forecast for 2008.
The German fashion group is now expecting currency-adjusted sales growth to come in at the lower end of its previous guidance range of 6 to 8 percent. The company is also projecting earnings before interest and taxes to be slightly lower than 2007, compared with the original forecast of 8 to 10 percent before one-time effects. Boss is now anticipating 2008 EBIT of between 210 million and 220 million euros, or $271.1 million to $284 million, compared with 220 million euros in 2007.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"