Hugo Boss: Q2 numbers are roughly in line and FY18 outlook reiterated (
Hugo Boss: (NEUTRAL, Fair Value EUR79 (+2%))Q2 numbers are roughly in line and FY18 outlook reiterated
In Q2 Hugo Boss achieved sales of EUR653m, fairly in line with CS expectations (EUR646m). FX-n sales growth amounted to 6% and is consistent with Q1 (+5% FX-n). Adj. EBITDA came in at ~EUR106m (CS: EUR108m), representing a margin contraction which was slightly more significant than expected
(-70bp to 16.2% vs. CS: 16.7%e. FY18 outlook is confirmed. Conference call today at 2:00pm (CET).
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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