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%.
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Sources: sports.yahoo.com, investing.com