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MarketScreener Homepage  >  Equities  >  Xetra  >  Hugo Boss    BOSS   DE000A1PHFF7

HUGO BOSS

(BOSS)
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Hugo Boss cuts outlook again, citing weak U.S., Hong Kong business

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10/10/2019 | 01:30pm EDT
The Hugo Boss logo is seen on a store in Metzingen

FRANKFURT (Reuters) - German fashion house Hugo Boss cut its 2019 earnings forecast again, citing weak demand in the United States and Hong Kong, and reported third quarter results that were below its expectations.

"In North America, the market environment further deteriorated during the third quarter, ... Besides lower local demand, also sales generated with tourists decreased over there," it said late on Thursday.

"Business in Hong Kong has been substantially negatively affected since the beginning of the political unrest and demonstrations," it added.

Luxury labels rely on Hong Kong as a magnet for travelers and shoppers across Asia, and several months of pro-democracy protests have forced some retailers to close their doors temporarily.

Hugo Boss now expects 2019 operating earnings before interest and tax (EBIT) to fall to between 330 million euros and 340 million euros, down from 347 million last year.

In August, it had pared its forecast for EBIT growth to the lower end of a high single-digit percentage increase.

In an early release of quarterly results that it described as below expectations, it reported flat group sales on a currency-adjusted basis and EBIT falling to 80 million from 92 million euros in the year-earlier period.

Earlier on Thursday its shares had closed up almost 1% after a strong sales update from Louis Vuitton owner LVMH which suggested the unrest in Hong Kong may have had less impact than expected.

LVMH said revenues were down roughly 25% in the July to September period in Hong Kong. Analysts had projected industry sales there could potentially have halved.

(Reporting by Ludwig Burger; Editing by Alexandra Hudson)

Stocks mentioned in the article
ChangeLast1st jan.
CHRISTIAN DIOR SE -0.91% 437 Real-time Quote.30.88%
HUGO BOSS -2.34% 36.35 Delayed Quote.-32.59%
LVMH MOËT HENNESSY VUITTON SE 0.08% 375.05 Real-time Quote.45.26%
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Financials (EUR)
Sales 2019 2 862 M
EBIT 2019 334 M
Net income 2019 229 M
Debt 2019 1 049 M
Yield 2019 7,29%
P/E ratio 2019 11,0x
P/E ratio 2020 9,78x
EV / Sales2019 1,24x
EV / Sales2020 1,19x
Capitalization 2 509 M
Chart HUGO BOSS
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Technical analysis trends HUGO BOSS
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 54,59  €
Last Close Price 36,35  €
Spread / Highest target 126%
Spread / Average Target 50,2%
Spread / Lowest Target 4,54%
EPS Revisions
Managers
NameTitle
Mark Alexander Langer Chief Executive Officer
Michel Perraudin Chairman-Supervisory Board
Yves Müller Chief Financial Officer
Antonio Simina Deputy Chairman-Supervisory Board
Sinan Piskin Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
HUGO BOSS-32.59%2 795
LVMH MOËT HENNESSY VUITTON SE45.26%210 302
VF CORPORATION28.32%36 819
LULULEMON ATHLETICA INC.70.31%26 981
MONCLER S.P.A.15.14%9 041
UNDER ARMOUR16.13%8 455