Hugo Boss lowers annual outlook on weak consumer demand, expenses

Nov 2 (Reuters) - German fashion group Hugo Boss on Monday cut its outlook for annual sales and operating profit, citing weak consumer demand and depreciation expenses tied to its IT assets.

The company expects group sales to decline in the high single-digit percentage range for 2026, compared to its earlier forecast of a mid- to high single-digit decline. 

Earnings before interest and taxes (EBIT) is now expected to range between €250 million and €300 million for the period, compared to €300 million to €350 million forecast earlier.

(Reporting by Anusha Shah in Bengaluru; Editing by Shailesh Kuber)