Hugo Boss: outperforms expectations in Q1

(CercleFinance.com) - On Wednesday Hugo Boss reported better-than-expected quarterly earnings and sales, buoyed by strong business in China and a surge in online sales.


The German clothing group's shares were up 6% at lunchtime on the Frankfurt stock exchange, largely outperforming the German mid-caps MDAX index, which was up just 0.8%.

The German fashion house's net loss was limited to eight million euros in the first three months of the year, compared with a loss of 18 million euros a year earlier.

By way of comparison, analysts were expecting a much greater loss of around 30 million euros.

Quarterly turnover fell by 10% to 497 million euros, while the consensus expected a fall of around 20%.

Hugo Boss has also confirmed its FY forecasts, still expecting on a recovery in sales and operating profit.



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