Global spread of coronavirus pandemic weighs on Hugo Boss results

First quarter sales at Hugo Boss decreased 16 percent overall to 555 million euros (605 million dollars), corresponding to a currency-adjusted decline of 17 percent. The company said in a statement that after a very encouraging start to the New Year, the global spread of the coronavirus led to a significant impact on the business. The double-digit sales decline significantly weighed on earnings with EBIT amounting to minus 14 million euros (15.2 million dollars) compared to 57 million euros in the same quarter of 2019.