The company announced Tuesday at least want to save 50 million euros by agreeing lower prices in new leases and by spending less on marketing.
The net profit amounted to 38.5 million euros, 49 percent less than a year earlier. Revenue fell 4 percent to 643 million euros lower than in the first quarter of 2015.
Adjusted for exchange rate levels decreased revenue by 3 percent. Hugo Boss was especially difficult in the US and in Asia, where revenues fell by more than 10 percent. In Europe declined by 1 percent.
The operating result (EBITDA) of the chain fell by 93.5 million euros, 29 percent lower. Hugo Boss expects this outcome throughout 2016 will be at least 10 percent lower than in 2015.
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