Hugo Boss Staff to Only Work Tues-Thurs in Office Even after Coronavirus

Jackets are on display in the Hugo Boss section in the Central Universal Department Store (TsUM) in Kiev, Ukraine, May 17, 2017. (Reuters)
Jackets are on display in the Hugo Boss section in the Central Universal Department Store (TsUM) in Kiev, Ukraine, May 17, 2017. (Reuters)
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Hugo Boss Staff to Only Work Tues-Thurs in Office Even after Coronavirus

Jackets are on display in the Hugo Boss section in the Central Universal Department Store (TsUM) in Kiev, Ukraine, May 17, 2017. (Reuters)
Jackets are on display in the Hugo Boss section in the Central Universal Department Store (TsUM) in Kiev, Ukraine, May 17, 2017. (Reuters)

Hugo Boss will only require that many staff work in the office from Tuesday to Thursday even after the coronavirus pandemic, offering the option of remote working on Mondays and Fridays, the German fashion house said on Wednesday.

Hugo Boss said it had taken the decision after an internal survey showed that most people felt less stressed working from home during the pandemic and had more time for their families, while managers were also very happy with the work done remotely.

"The future belongs to tailored combinations of office-based and off-site work," said Jochen Eckhold, human resources director. "Our hybrid working model caters to employees' growing desire for alternative scheduling and location options."

The firm said three days in the office allows meetings and events to be scheduled more effectively, while boosting the group's appeal as an employer and protecting the environment by reducing commuting.

The new schedule will initially be available from October to about 3,200 employees in Germany whose jobs do not require physical presence in the office, but Hugo Boss expects similar models to be adopted in its subsidiaries around the world.

Hugo Boss, known for its smart men's suits, said earlier this month it expects demand for suits and formal wear to return as lockdowns ease even as it adjusts to the rising popularity of casual styles after sales tumbled 59% in the second quarter.



Sports Brand Puma Reports Flat First-Quarter Sales, Maintains 2025 Outlook 

A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (Reuters)
A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (Reuters)
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Sports Brand Puma Reports Flat First-Quarter Sales, Maintains 2025 Outlook 

A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (Reuters)
A Puma logo is seen on a Puma Speedcat OG sneaker displayed at the Puma Mostro House in Paris, France, January 24, 2025. (Reuters)

German sportswear brand Puma reported flat first-quarter sales and a decline in its profit margin on Thursday, and maintained its 2025 outlook, excluding any impact from US tariffs.

Puma replaced its CEO last month after a string of profit warnings as the company struggled to drive consistent sales growth, with its new shoes ranges like the Speedcat not doing as well as the company had expected.

Shares were up around 2% in early trading on Thursday. Puma's stock is down 47% since the start of the year, as missed sales and profit expectations weigh.

First-quarter sales of 2.08 billion euros ($2.35 billion) were slightly better than analysts' average forecast of 2.04 billion euros, and up 0.1% from the first quarter of last year.

Weaker sales to retailers in the US and China drove Puma's wholesale business - its main sales driver - down by 3.6%, but stronger online sales helped its direct-to-consumer business grow 12% to 546.5 million euros.

Puma has named former Adidas sales chief Arthur Hoeld as its new CEO to turn performance around. The board is leading the company until Hoeld takes over on July 1.

The company's gross profit margin for the first quarter declined by 0.6 percentage points to 47%.

Puma stuck to its 2025 outlook for "low-to mid-single-digit" sales growth, but said that excludes any impact from US tariffs.

It has already reduced its US imports from China, which are subject to tariffs of 145%, Chief Financial Officer Markus Neubrand said.

Like its competitors Adidas and Nike, Puma would be hit hard if US President Donald Trump reinstates steep tariffs on Southeast Asia, currently paused until July.

Puma buys 28% of its products from factories in China, with Vietnam a close second at 26%, and Cambodia producing 16%.

It plans to cut 500 corporate positions globally by the end of the second quarter as part of a cost-cutting drive, Neubrand said in March.