Hugo Boss: stock dives after profit warning
(CercleFinance.com) - The Hugo Boss share is down 13.
8% in Frankfurt on Friday, hammered by the market after the group cut its FY targets. It now expects it to increase at a "low single-digit percentage rate," adjusted for FX factors, against "the lower end of a mid-single-digit percentage range."
Likewise, the German clothing company now expects operating profit of between 330 million and 340 million euros for 2019, against 347 million euros in 2018, while it was previously expecting it to grow " lower end of a high single-digit percentage range".
Hugo Boss says that it is taking into account "persistent macroeconomic uncertainties that increasingly weigh on consumer demand," particularly in North America, as well as the negative impact of political unrest in Hong Kong.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
8% in Frankfurt on Friday, hammered by the market after the group cut its FY targets. It now expects it to increase at a "low single-digit percentage rate," adjusted for FX factors, against "the lower end of a mid-single-digit percentage range."
Likewise, the German clothing company now expects operating profit of between 330 million and 340 million euros for 2019, against 347 million euros in 2018, while it was previously expecting it to grow " lower end of a high single-digit percentage range".
Hugo Boss says that it is taking into account "persistent macroeconomic uncertainties that increasingly weigh on consumer demand," particularly in North America, as well as the negative impact of political unrest in Hong Kong.
Copyright (c) 2019 CercleFinance.com. All rights reserved.