HUGO BOSS: Q1 sales a touch better but brace for severe turbulences in Q2 | NEUTRAL | EUR64(+145%)
HUGO BOSS - NEUTRAL | EUR64(+145%)Q1 sales a touch better but brace for severe turbulences in Q2
Q1 decline of 17% FX-n is less pronounced that expected
Asia-Pacific posted the sharpest contraction (-31% FX-n)
Negative EBIT of EUR14m due to operating deleverage
Deteriorating top line and profit trends expected in Q2
Hugo Boss keeps a financial flexibility
HUGO BOSS Group is engaged in the global apparel market. The Group, which is based in Metzingen Germany employs almost 12,500 people, generated annual sales of EUR 2.4 billion in fiscal year 2013 and is an apparel manufacturer. The Group focuses on developing and marketing high-end women's and men's fashion and accessories. With its brand including the BOSS core brand, the lines BOSS Orange, BOSS Green and the progressive brand HUGO, Co. targets different, consumer groups. The brands consists of modern business wear, evening wear and sportswear, shoes and leather accessories as well as licensed fragrances, eyewear, watches, children's fashion, home textiles and mobile accessories.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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