Hugo Boss: shares rally after quarterly update.
(CercleFinance.com) - Hugo Boss shares are up almost 6% in Frankfurt today after the German fashion house confirmed its full-year sales and earnings targets in the wake of "good progress" in the second quarter.
The Metzingen-based group said currency-adjusted sales were up 3% in the second quarter, with sales up 3% at constant stores.
While net income rose on store closures, the company said EBITDA before extraordinary items was unchanged relative to the previous year, at 107.7 million euros.
Looking ahead, Hugo Boss said it was still expecting a "largely stable development" in currency-adjusted group sales in 2017, before growth in both sales and earnings in 2018.
However, looking at 2019 and beyond, the luxury goods group assumes that sales growth will outperform the market and that its operating margin will increase again.
Hugo Boss shares were jumping 5.9% at 68.9 euros after these comments today.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Metzingen-based group said currency-adjusted sales were up 3% in the second quarter, with sales up 3% at constant stores.
While net income rose on store closures, the company said EBITDA before extraordinary items was unchanged relative to the previous year, at 107.7 million euros.
Looking ahead, Hugo Boss said it was still expecting a "largely stable development" in currency-adjusted group sales in 2017, before growth in both sales and earnings in 2018.
However, looking at 2019 and beyond, the luxury goods group assumes that sales growth will outperform the market and that its operating margin will increase again.
Hugo Boss shares were jumping 5.9% at 68.9 euros after these comments today.
Copyright (c) 2017 CercleFinance.com. All rights reserved.