Hugo Boss: shares drop as Ebitda misses

(CercleFinance.com) - German fashion house Hugo Boss confirmed its outlook for 2018 on Thursday as it reported lower-than-expected second quarter results.


At 106 million euros, second-quarter EBITDA remained virtually unchanged compared to its level the previous year.

The group also reported EBIT of 74 million euros, down from 81 million euros, while sales rose by 3% to 653 million euros.

Hugo Boss confirmed its full-year outlook, continuing to expect currency-adjusted sales growth in the low-to-mid single-digit range.

"However, the EBITDA miss combined with the inventory build is likely to weigh on sentiment," one analyst warned this morning.

Shares in Hugo Boss are currently down 6.5% in Frankfurt.

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