Hugo Boss: stock down after annual results
(CercleFinance.com) - The Hugo Boss share has fallen by up to 3% in Frankfurt on Thursday morning, after the ready-to-wear group reported a net loss of 219 million euros for last year, compared with a profit of 205 million euros in 2019, with its diving 68% to 230 million euros.
Revenue fell 33% to 1.95 billion euros (-31% excluding currency effects), reflecting the negative impact of the pandemic which was particularly marked in Europe and the Americas.
However, confident that the global retail environment will gradually improve over the course of 2021, starting in the second quarter, Hugo Boss expects its 2021 sales and EBITDA to be well above last year's levels.
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