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Hugo Boss posts China sales rise
■ German fashion house Hugo Boss said yesterday it was seeing some signs of improvement in China, with sales picking up there in the third quarter. “We do see stabilisation but no recovery in consumer confidence in China yet,” chief executive Claus-Dietrich Lahrs said, as the firm posted third-quarter earnings showing flat sales of €646m (£521m) and a drop in core profits. Warnings on slowing demand in China from luxury companies such as Burberry have spooked the luxury sector in the last couple of months. Shares in Hugo Boss have dropped 13 per cent over the last three months. Nevertheless the group said sales in China rose five per cent, up from just one per cent in the second quarter. Earnings dropped seven per cent to €165m.