Hugo Boss to shut 20 stores to boost profitability

Hugo Boss has said that sales and earnings developed one present in the second quarter than in the first three months of the year. In the first half of the year, Hugo Boss reported a 2 percent sales decline in local currencies. In the reporting currency, this translates to a decrease of 4 percent to 1,265 million euros (1,409 million dollars). To return to profitability, in addition to the previously announced changes in the Chinese store portfolio, the company has decided to shut around 20 freestanding stores globally in the coming 18 months.