Hugo Boss : Q3 profits better than feared, FY 2024 outlook confirmed
>Sales up 1%, gross margin down but cost savings help EBIT somewhat - In Q3, sales were up 1% y-o-y excluding forex to € 1,029m as expected (consensus: € 1,023m, ODDO BHFe: € 1,027m). Regions: EMEA +1%, Americas +4% but Asia -7% due to China. Channels: retail -3% on less traffic, wholesale +4% and digital +6%. EBIT was down 8% y-o-y to € 95m (consensus: € 90m, ODDO BHFe: € 92m) and thus some 5% above the consensus with the margin down 80bp. The gross margin was down ...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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