Hugo Boss : Q3 post view: lowering gross margin assumptions, Neutral rating confirmed
>Q3 - sales up 1% but EBIT down 8%, gross margin decreases 50bp - Last week, Hugo Boss reported Q3 2024 results broadly in line with expectations and confirmed the FY 2024 outlook. In Q3, sales were up 1% y-o-y excluding forex to € 1,029m as expected. Regions: EMEA +1% as improvements in Germany compensate for softer sales trends in the UK and France, Americas +4% but Asia -7% due to China. Channels: Retail -3% on less traffic, Wholesale +4% and Digital +6%. EBIT was ...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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