Dow Jones Newswires: Hugo Boss profit misses forecasts, but guides for improvement ahead [MarketWatch]
HUGO BOSS AG S/ADR (BOSSY)
NASDAQ:AMEX Investor Relations:
group.hugoboss.com/en/investor-relations
Company Research
Source: MarketWatch
Hugo boss profit misses forecasts, but guides for improvement ahead Hugo Boss AG on Tuesday reported a fall third-quarter earnings, but said it expects sales and operating profit for the next quarter to increase significantly. The German premium-apparel company’s BOSS, +3.90% net profit fell to 56 million euros ($62.5 million), from EUR66 million a year earlier, missing analysts’ expectations of EUR75 million, according to a consensus estimate provided by FactSet. The company last month prereleased third-quarter figures and cut its operating profit and sales outlook, citing weak demand in Hong Kong and North America. Boss had said that its third-quarter sales, adjusted for currency effects, were EUR720 million, just 1% higher than the year previous. The U.S. market environment worsened during the third quarter, Boss said. “Besides lower local demand, also sales generated with tourists decreased in this market,” Boss said. Operating profit for the quarter fell to EUR83 million from
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