The fashion group Hugo Boss DE000A1PHFF7 felt the effects of the increasingly uncertain consumer environment in the first quarter.

Sales fell by two percent to 999 million euros, the company announced in Metzingen on Tuesday. The company's continued weak consumer sentiment in China weighed on the results, and the US also saw subdued demand from both local consumers and international tourists, the company said.

The gross margin remained stable at 61.4 percent, while earnings before interest and taxes fell by 12 percent to €61 million. Nevertheless, the figures were better than analysts had feared. Hugo Boss "consciously focused on the factors we can actively influence," commented CEO Daniel Grieder. In addition to initiatives to strengthen the brand, Hugo Boss realized further savings, improved global sourcing, and thereby increased productivity. The company confirmed its forecast for the current year.