We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Oct 2, 202012:44am

Hugo Boss makes profit warning: slumps into lowest level in nine years

Shares of the German company dropped more than 13%, to its lowest level in nine years. The company estimates that its operative profit decreases 5% this fiscal year.

Oct 14, 2019 — 4:18pm
Mds
Save

Hugo Boss makes profit warning: slumps into lowest level in nine years

 

 

Hugo Boss on the low. The German company, that is listed in the Frankfurt stock exchange, warned on profits last Friday, anticipating a drop of 5% in its operative profit this year. Initially the company had forecast an increase of “a high single-digit percentage range.”

 

The company also announced that its sales for the year, adjusted for currency fluctuations, will rise “a low single-digit percentage rate”. Hugo Boss has stated this result are due to “persistent macroeconomic uncertainties” and the political unrest in Hong Kong.  

 

 

 


After the announcement, shares of the German company dropped 13% friday, its lowest level in nine years. One year ago, the group presented a new strategic plan with the goal of speeding sales between 5% and 7% each year until 2022.

 

“Despite heightened macroeconomic uncertainties that we are currently facing, we remained focused on successfully executing against our strategic initiatives,” stated Mark Langer, CEO of the German group.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...