Hugo Boss cuts full year sales guidance over weaker demand in China, UK
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 15 2024
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Should l Buy ?
Source: reuters
Hugo Boss Cuts Sales Guidance: Hugo Boss, the German fashion house, has reduced its sales guidance for the year due to weakening global consumer demand, particularly in markets like China and the UK. The company now expects lower sales and operating profit compared to its previous estimates.
Impact on Luxury Goods Market: The news reflects a broader trend in the luxury goods market, with other companies like Swatch and Burberry also reporting declines in sales and earnings, especially in regions like China. This indicates challenges in the luxury sector due to weak demand.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
