Hugo Boss : Consistent growth, but new outlook implies only limited upside
>Q2 2023 above, gross margin weaker, strict control of opex - Yesterday, Hugo Boss released better-than-expected Q2 2023 results. In Q2, sales increased 20% y-o-y excluding FX to € 1,026m, i.e. were some 2% above the consensus driven by EMEA and Asia. Regions: EMEA grew 15%, with Germany and France posting sales growth of 19% and 15%, respectively. Sales in the UK remained slightly below 2022 levels. The Americas was up 20%, supported by the US which grew 16%. Asia in...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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