Hugo Boss Reports Weak 1Q, Driven by Declines in the U.S., Investments; Fair Value Estimate Intact
We are maintaining our narrow moat rating and fair value estimate of EUR 65 per share as Hugo Boss reported disappointing first-quarter profitability and sales declines in the Americas region. Management kept its guidance for mid-single-digit growth in revenue at constant currency and high-single-digit growth in EBIT (broadly in line with our estimates), however, the weak first-quarter makes the guidance look more ambitious. ÂCurrency-adjusted total sales grew by 1%, versus the 4.5% growth we e...
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.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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