Hugo Boss : Final Q2 in line, focus now on cost savings initiatives
>Revenue down 1% and EBIT margin down c. 500bp in Q2 - This morning, Hugo Boss released final Q2 2024 results after giving a material profit warning for Q2 and FY 2024 mid-July. In Q2, sales decreased 1% y-o-y excluding FX to € 1,015m mainly on a declining retail business in Europe and China. Regions: EMEA -2%, Americas +5% and Asia -4%. Channels: Retail -2%, Wholesale +5% and Digital -4%. EBIT was down over 40% to € 70m, with the margin down c. 500bp. The gross margi...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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