Hugo Boss returned to growth in China in June

GERMAN fashion house Hugo Boss said today it had returned to strong growth in China in June and online sales jumped 74% in the second quarter even as it reported an overall 59% fall in sales for the period due to lockdowns.

The company known for its smart men’s suits reported quarterly revenue of 275 million euros (RM972.24 mil) and an operating loss of 124 million euros, compared to average analyst forecasts for 288 million and a loss of 133 million respectively.

Hugo Boss said it expects a gradual improvement for the second half of 2020, but declined to provide a full-year forecast due to market uncertainty. – Aug 4, 2020

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