The latest investor updates on stocks that are trending on Tuesday.
Investing.com -- Shares in Hugo Boss (F:BOSSn) slipped sharply in midday European trading on Tuesday after the luxury fashion retailer unveiled preliminary fourth-quarter earnings that missed consensus estimates.
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.