BERLIN (Reuters) - German fashion house Hugo Boss (DE:BOSSn) beat forecasts for third-quarter net profit on Wednesday and said earnings for the full year would be supported by higher cost savings than originally planned, including renegotiated store rents.
Net profit fell 9 percent to 81 million euros (73 million pounds) on sales down 6 percent to 703 million, compared to analysts' average forecasts for 76 million and 706 million respectively.
The company known for its smart men's suits said extensive cost savings had helped limit the impact of falling sales on earnings, adding it now planned savings of 65 million euros for 2016 compared with a previous target of 50 million.
That helped it reiterate a forecast for full-year currency adjusted sales to fall between zero and 3 percent and for operating earnings before special items to fall 17 to 23 percent.
