Hugo Boss: shares little changed after mixed results
(CercleFinance.com) - The Hugo Boss stock was little changed on Tuesday, with the German fashion house saying that its third quarter was "not easy," although still forecast "significant growth" for the fourth quarter.
In the third quarter, Hugo Boss increased currency-adjusted sales by 1% to 710 million euros, with "robust growth" in the Americas and Asia offsetting a slight decline in Europe.
Citing a "challenging market environment," the company said that its gross profit margin declined by 240 basis points, mainly due to higher markdowns.
As a result, EBITDA before special items fell 12% year-on-year, reaching 126 million euros, the company said.
However, Hugo Boss expects a "significant" improvement in both sales and earnings in the fourt quarter.
The company said it expects robust growth in its own retail business, with fourth-quarter traditionally being the strongest in terms of sales.
Its shares are currently up 0.5% at 64.2 euros in Frankfurt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In the third quarter, Hugo Boss increased currency-adjusted sales by 1% to 710 million euros, with "robust growth" in the Americas and Asia offsetting a slight decline in Europe.
Citing a "challenging market environment," the company said that its gross profit margin declined by 240 basis points, mainly due to higher markdowns.
As a result, EBITDA before special items fell 12% year-on-year, reaching 126 million euros, the company said.
However, Hugo Boss expects a "significant" improvement in both sales and earnings in the fourt quarter.
The company said it expects robust growth in its own retail business, with fourth-quarter traditionally being the strongest in terms of sales.
Its shares are currently up 0.5% at 64.2 euros in Frankfurt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.