Sales and profits continued to go down at Hugo Boss in the first quarter. Revenues dropped by 8 percent to €444 million, although sales through the company's stores increased by 25 percent to €83 million. Total sales fell by 12 percent in Europe but rose by 5 percent in the Americas and by 4 percent in the Asia-Pacific region. Before amortization and extraordinary charges, the company's operating income declined by 12 percent to €92 million. Net profit dropped by 12.5 percent to €56 million. Forecasting a single-digit increase, the company is expecting a return to sales growth for the full year. Company officials have denied new rumors about a new impending share of ownership.