Hugo Boss: first-quarter sales flat, confirms targets
(CercleFinance.com) - German fashion house Hugo Boss reported a 5% rise in currency-adjusted first-quarter sales, fueled by demand in the US and Asia.
Total sales reached 650 million euros in the first three months of 2018, compared to 651 million euros in the same period a year ago.
The group's own retail business saw currency-adjusted sales jump 8% in the past quarter, with comparable store sales up 7%.
Operating profit (EBIT) rose by 8% to 70 million euros, helped by a drop in operating expenses.
"At this stage, we see limited upside to our full year 2018-2019 forecasts since today's publication is fairly in line with consensus expectations and outlook was unchanged," said an analyst in Paris.
Indeed, Hugo Boss maintained its full-year financial outlook, expecting low to mid-single digit currency-adjusted sales growth this year.
Investors had a fairly muted reaction to this news: Hugo Boss shares are currently down 0.5% at 77.4 euros this Wednesday morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Total sales reached 650 million euros in the first three months of 2018, compared to 651 million euros in the same period a year ago.
The group's own retail business saw currency-adjusted sales jump 8% in the past quarter, with comparable store sales up 7%.
Operating profit (EBIT) rose by 8% to 70 million euros, helped by a drop in operating expenses.
"At this stage, we see limited upside to our full year 2018-2019 forecasts since today's publication is fairly in line with consensus expectations and outlook was unchanged," said an analyst in Paris.
Indeed, Hugo Boss maintained its full-year financial outlook, expecting low to mid-single digit currency-adjusted sales growth this year.
Investors had a fairly muted reaction to this news: Hugo Boss shares are currently down 0.5% at 77.4 euros this Wednesday morning.
Copyright (c) 2018 CercleFinance.com. All rights reserved.