DGAP-Ad-hoc: HUGO BOSS AG / Key word(s): Change in Forecast/Profit Warning
HUGO BOSS announces preliminary third quarter results and adjusts its full year 2019 outlook
On a preliminary basis, currency-adjusted Group sales in the third quarter remained on the prior-year level. This represents an increase of 1% in the reporting currency to EUR 720 million. Group-wide retail sales increased 3% in total and 2% on a comp store basis, both adjusted for currency effects. Operating profit (EBIT, defined as group earnings before taxes less financial result) in the third quarter amounted to EUR 80 million on a preliminary basis (excluding the effects of IFRS 16; prior year: EUR 92 million), and thus below expectations.
Against this background, HUGO BOSS adjusts its financial outlook for the current year. Management now expects currency-adjusted Group sales for the full year 2019 to increase at a low single-digit percentage rate (previously: expectation of an increase at the lower end of a mid-single-digit percentage range). At the same time, HUGO BOSS now expects to generate an operating profit (EBIT) of between EUR 330 million and EUR 340 million for the full year (excluding the effects of IFRS 16; prior year: EUR 347 million). Management's previous outlook provided for an increase in EBIT at the lower end of a high single-digit percentage range.
The Managing Board
10-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||HUGO BOSS AG|
|Phone:||+49 (0)712 394-0|
|Fax:||+49 (0)712 394-80259|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange|
|EQS News ID:||888567|
|End of Announcement||DGAP News Service|
888567 10-Oct-2019 CET/CEST