Hugo Boss earnings beat estimates but fell short on revenue
The world-renowned German luxury fashion house – Hugo Boss posted #Q3 2020 earnings that hint to a slight rebound from the #pandemic.
Hugo Boss announced an EPS of €0.04 on revenue of €533 million. While the EPS beat expectations as the market was looking for a loss per share of €0.14, the same cannot be said about the revenue figures, given the fact that the market anticipated €551.8 million. Compared to last year’s #revenue figures, Hugo Boss reported a 24% decline.
In the US, #sales dropped 41%, reaching €73 million. Although the decrease is significant, is half of the one reported during Q2 2020 – 82%. At the same time, in China, sales were down 14%, the figures coming in at €76 million.
At a European level, sales fell 21% to €369 million.
Given the uncertainty caused by the pandemic, Hugo Boss wasn’t able to provide any further guidance.
After the report, Hugo Boss stock price added 2.8%. Since the beginning of the year, its stock price has lost 52%, while Europe50 is down more than 14%.
Read the latest financial news on CAPEX.com!
Sources: sports.yahoo.com, investing.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.