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Published
Mar 5, 2020
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Hugo Boss sees coronavirus hit to sales spreading from Asia

By
Reuters API
Published
Mar 5, 2020

German fashion house Hugo Boss warned on Thursday that the coronavirus will have a significant impact on its first-quarter results, with sales falling particularly in Asia, but also in other key markets.


Hugo Boss - Spring-Summer2019 - Womenswear - New York - © PixelFormula



Hugo Boss said it expects a gradual normalisation by the middle of the year, but it still foresees a major hit to 2020 results. It forecast currency-adjusted sales will rise from zero to 2%, including a single digit decline in Asia/Pacific.

It expects earnings before interest and taxation (EBIT) to come in at €320 million-350 million (£277 million-302 million) after a 4% fall to 333 million in 2019 as it invested in sprucing up its store network.

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