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Hugo Boss AG (0Q8F.IL)
- Reuters
Hugo Boss shares fall on weaker China demand, US uncertainty
(Reuters) -Shares in Hugo Boss slumped nearly 10% on Thursday, hitting their lowest level since 2022 after the premium apparel brand flagged weaker demand in China and concern about U.S. consumer sentiment ahead of the presidential election. The German fashion house is on an expansion mission, increasing marketing spend and opening 102 new points of sale in 2023, but its shares have fallen this year as it warned of slower sales growth. In the Americas region, Hugo Boss first-quarter sales were up 11% compared to the same quarter last year, but slowing compared with a growth of 18% in the previous quarter.
- Reuters
Hugo Boss agrees to sell Russian business to wholesale partner Stockmann
MOSCOW (Reuters) -Hugo Boss has agreed to sell its Russian business to wholesale partner Stockmann, the German fashion house said on Wednesday, a deal that will end its presence in Russia a little over two years after suspending operations there. Hugo Boss, along with many store groups, suspended its retail business in Russia soon after Moscow despatched its army to Ukraine in February 2022. Russia's government commission on foreign asset sales has approved the deal, Interfax reported, citing Deputy Minister of Industry and Trade Viktor Yevtukhov, with one of the conditions being that all jobs are preserved.
- Zacks
New Strong Sell Stocks for April 3rd
BOSSY, SBOW and UWMC have been added to the Zacks Rank #5 (Strong Sell) List on April 3, 2023.
