MORE BAD NEWS FOR BOSS: Orders for Hugo Boss’ spring 2003 collection are down 4 percent on the year so far, confirmed a spokesman for Marzotto, which owns the German fashion house. Boss is seeing hard times in its two biggest markets, with orders in Germany and North America down 10 percent and 5 percent, respectively. Nonetheless, he said Hugo Boss should still make its 2002 net profit target of $69.8 million. (Dollar figure is converted from the euro at current exchange rates.) As reported, Boss has been plagued with financial and legal problems this year, including several profit warnings and a shareholder lawsuit filed in Manhattan federal court against the company and two former key executives of its U.S. unit, Marty Staff, and Vincent Ottomanelli, alleging securities law violations.

This story first appeared in the September 5, 2002 issue of WWD. Subscribe Today.

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