The UK arm of Hugo Boss has reported lower sales and profit for a second year in a row.

Profit at the UK arm of Hugo Boss, which counts Mike Ashley’s Frasers Group as a major shareholder, has been slashed for a second consecutive year.

The London-headquartered division of the German group has posted a pre-tax profit of £9m for 2024, down from the £16.8m it achieved in 2023 and £30.4m in 2022.

New accounts filed with Companies House also show the brands turnover declined from £391.6m to £377m in 2024.

Hugo Boss’ turnover had stood at £402.4m in 2022.

The firm’s wholesale turnover increased in 2024 from £131.5m to £134.5m but its retail sales fell from £204.2m to £188.2m and its online takings dipped from £55.9m to £54.2m.

For the year, Hugo Boss has recommended a dividend of £9.3

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