Boss sales drop in 'difficult year'

HUGO Boss yesterday gave a gloomy outlook for the rest of the year, after its third-quarter operating profits fell by almost a third and missed analysts' estimates, as shoppers shunned high-end fashion.

The German clothing firm, known for its sharply cut suits, said 2009 "will remain an extremely difficult year" for the high-end fashion industry in light of the downturn.

Sales declined 9 per cent over the first nine months. The firm still expects full-year sales to fall, but no longer predicts a rise in profitability, with its margin matching last year's level.