HUGO BOSS reports sales decline and drop in EBIT, but remains resilient

From Investing.com: 2024-08-04 14:51:59

In Q2 of 2024, HUGO BOSS AG reported a 1% sales decline and a 42% drop in EBIT due to higher operating expenses. Despite this, the company’s CLAIM 5 strategy has helped limit the impact of a challenging luxury apparel market. Sales in the Americas increased by 5%, while EMEA and Asia-Pacific experienced declines. HUGO BOSS plans to invest in strategic areas and implement cost-saving initiatives to ensure profitability.

With a focus on brand enhancement and navigating market uncertainties, HUGO BOSS AG remains determined to maintain its strong position in the luxury apparel market. The company’s investments in strategic areas and cost-saving initiatives underscore its commitment to efficiency and long-term growth. By adapting to the changing economic landscape, HUGO BOSS strives to achieve consistent profitability and operational excellence.



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