Hugo Boss: shares fall on cautious full-year outlook

(CercleFinance.com) - Hugo Boss saw its shares fall over 3% on Thursday after the German fashion house said it expects its full-year results to be at the lower end of expectations.


Hugo Boss said its performance in Asia/Pacific was once again particularly strong in the second quarter, with double-digit comparable store sales growth in China, but it noted a "persistently difficult market environment in the U.S."

While currency-adjusted sales rose by 2% to 675 million euros in the past quarter, sales in the Americas were down 3%, the group said.

In its statement, Hugo Boss blamed an easing of the positive effects of the tax reform, weaker sales with tourists and a highly promotional market environment.

Based on these results, the Metzingen-based company said it expects to achieve full-year sales and earnings at the lower end of its current outlook range.

Investors punished the share, with the Hugo Boss stock currently down 3.6% in Frankfurt.

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