GERMANY: Hugo Boss Says Profit Target Covers US Risks
German fashion giant Hugo Boss AG on Tuesday said that its new 2002 earnings target of $87.4 million would fully cover any risks triggered by the recent discovery of inventory discrepancies at its US unit. The company cut its net profit forecast by 11 per cent yesterday as it was hit by the discrepancies and problems with its Boss Woman range but said the US risks are shown in its reduced profit goal.
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