Hugo Boss: share down despite good results
(CercleFinance.com) - Hugo Boss is losing ground on the Frankfurt Stock Exchange on Wednesday, despite stronger-than-expected sales growth in Q1.
The German fashion group, known primarily for its men's suits, announced this morning that its sales had risen 52% at constant exchange rates to 772 million euros over the period.
By way of comparison, analysts were expecting growth of around 40%.
The group's EBITDA reached 40 million euros, while the consensus was looking for 39 million euros.
After this successful start to the year, Hugo confirmed its targets for 2022, still aiming for 10% to 15% sales growth, which should bring its annual revenues to a record of 3.1-3.2 billion euros.
Despite these better-than-expected figures, the stock was down nearly 4% on Wednesday morning, clearly penalised by the many macroeconomic uncertainties of the moment.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The German fashion group, known primarily for its men's suits, announced this morning that its sales had risen 52% at constant exchange rates to 772 million euros over the period.
By way of comparison, analysts were expecting growth of around 40%.
The group's EBITDA reached 40 million euros, while the consensus was looking for 39 million euros.
After this successful start to the year, Hugo confirmed its targets for 2022, still aiming for 10% to 15% sales growth, which should bring its annual revenues to a record of 3.1-3.2 billion euros.
Despite these better-than-expected figures, the stock was down nearly 4% on Wednesday morning, clearly penalised by the many macroeconomic uncertainties of the moment.
Copyright (c) 2022 CercleFinance.com. All rights reserved.