Hugo Boss: fiscal year 2020 outlook no longer relevent
(CercleFinance.com) - German fashion house Hugo Boss said on Thursday that its outlook for fiscal year 2020, which it provided earlier this month was "no longer valid.
Due to the COVID‑19 pandemic, the company has temporarily closed many of its own retail stores as well as many points-of-sale at major partners in Europe and North America.
The group also said that it will suspend store renovations and new openings, until further notice, in addition to significantly limiting inventory inflow.
Hugo Boss said that it intends to return to profitable growth "quickly, as soon as the situation has normalized."
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