July 15 (Reuters) - German fashion house Hugo Boss

on Monday cut its sales guidance for the year to a

range of between 4.20 billion euros ($4.58 billion) to 4.35

billion euros over weakening global consumer demand especially

in markets like China and the UK.

The company earlier expected sales for the year at around

4.30 billion to 4.45 billion euros.

Hugo Boss said that it expects operating profit (EBIT) to be

around 350 million euros to 430 million euros, down from its

previously communicated guidance of around 430 million euros to

475 million euros.

This is the second time this year that Hugo Boss has cut its

sales guidance.

The company had previously also flagged in its first quarter

results weaker demand in China and concerns about the U.S.

consumer sentiment ahead of presidential elections, causing

shares to slump to their lowest since 2022.

The German fashion house also said that its preliminary

second-quarter sales declined by 1% to 1.02 billion euros. Its

operating profit (EBIT) in the period amounted to 70 million

euros on a preliminary basis.

The premium apparel brand has been on an expansion mission,

and has been increasing marketing spend and opening 102 new

points of sale in 2023, but its shares have fallen this year as

it warned of slower sales growth.

World's biggest watchmaker Swatch reported a steep drop in

first half sales and earnings earlier on Monday as demand for

luxury goods in China remained weak, Burberry also issued a

profit warning and scrapped its dividend payment for the year as

well.

($1 = 0.9179 euros)