London is one of just a handful of places where Hugo Boss is considering opening more shops, the upmarket fashion retailer said on Tuesday as it warned of challenging conditions elsewhere.
The German design house, known for its suits, said “persistent macroeconomic uncertainties” weighed on the business in the third quarter to September 30.
In Hong Kong sales were hurt by political unrest, and the US also had a weaker performance. But in the UK revenues increased 5%.
Mark Langer, chief executive of Hugo Boss which has 50 standalone UK shops, told the Evening Standard: “London is still benefiting from healthy international footfall. I’m still extremely optimistic London will remain an important international business and tourist hub after Brexit."
He added: "There are very few markets where we are still considering opening new standalone shops, but London is one of those places.”
Group revenues edged up 1% to €720 million (£622 million). Operating profit was off 13%, falling short of analyst forecasts.
Langer intends to “significantly” increase profits in the final quarter.
