Hugo Boss shares drop 10% as company cuts sales outlook to €4.20-€4.35bn due to slumping demand, primarily in China.
Hugo Boss shares plummet 10% after the company cuts its sales outlook due to slumping demand, particularly in China. The German fashion house now expects full-year sales to range between €4.20bn and €4.35bn, down from a previous forecast of €4.30bn to €4.45bn. The company attributes the revised outlook to persistent macroeconomic and geopolitical challenges, citing China and the UK as particularly challenging markets.
July 16, 2024
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