CHECKOUT COUNTER: Who’s the Boss now?
German fashion house Hugo Boss says it expects its operating profit to rise faster than sales in 2019
1. Chocs away for Lindt
Swiss chocolate maker Lindt & Sprüngli said last week it expected organic sales to grow 5%-7% this year, in line with midterm targets, as it works to improve the performance of its North American unit. Chocolate makers are grappling with saturated European and US markets and a trend towards healthier snacking, but Lindt is growing faster than its peers as it taps new markets in Asia and Africa and expands its own retail network.
2. Who’s the Boss now?
German fashion house Hugo Boss said it expected its operating profit to rise faster than sales in 2019, predicting strong momentum in its online business and Asia. Known for its men’s suits, Hugo Boss has introduced more casual and sportswear styles to appeal to a younger audience and has invested heavily in its online offer after a bid to go upmarket backfired a few years ago.
3. A Mini Brexit exit?
BMW could consider moving Mini production out of Britain in the event of a disorderly Brexit, board member Peter Schwarzenbauer told Sky News. He added that the company would also not be happy with a two-or three-month delay to Britain’s departure from the EU because the industry has been preparing for a March 29 exit.
4. Diesel USA files chapter 11
Diesel USA, the clothing maker famous for its five-pocket jeans, filed for chapter 11 protection in the US bankruptcy court last week. It blamed mounting losses, a sales plunge, expensive leases and cyber fraud. Parent company, Italy’s Diesel SpA, is not part of the bankruptcy filing. Diesel USA has been the sole distributor of Diesel products in the US since its 1995 launch.