Boss Holdings, Inc. (BSHI)
- Reuters
Hugo Boss shares sink as profit disappoints
Hugo Boss shares sank 11% on Tuesday after its fourth quarter operating profit missed expectations, adding to signs of strain among fashion brands, though sales continued to grow. Hugo Boss shares were down 11% at 59 euros at 1425 GMT, set for their worst day since March 2020. "This is disappointing but not a disaster, and I think the share price reaction is exaggerated from my point of view," said Thomas Joekel, who manages a fund at Union Investment holding Hugo Boss shares.
- Reuters
Hugo Boss stays strong amid tough China, U.S. markets
Hugo Boss raised its sales and profit outlook on Wednesday as a brand revamp and marketing push helped the German fashion house overcome sluggish sector-wide demand in China and the United States. The premium fashion group has shown resilience in slowing U.S. and European markets while boosting sales in Asia despite China's slower-than-expected recovery. Shares in luxury goods companies have come under pressure due to worries over the pace of China's post-pandemic rebound.
