Mixed Q3 earnings for Hugo Boss

By: Miguel A. Rodriguez

16:10, 04 November 2020

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

Share this article

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided.