Investor Alert

Oct. 11, 2019, 4:07 a.m. EDT

Hugo Boss shares plunge after warning over North America, Hong Kong

Hugo Boss (FRA:DE:BOSS) shares plunged 14% as the clothing maker said the market environment in North America deteriorated, and business in Hong Kong has been "substantially negatively affected" since the beginning of the political unrest and demonstrations. It's forecasting flat sales on a constant currency basis for the third quarter and 2% same-store sales growth. Its operating profit fell to 80 million euros from 92 million euros. It's now expecting 2019 sales in constant currencies to increase at a low single-digit percentage rate, vs. a prior forecast of the low end of a mid-single-digit percentage rise, and an operating profit between 330 million and 340 million euros vs. last year's 347 million euros. Hugo Boss previously forecast an operating profit at the lower end of a high single-digit percentage range.

Read the full story:
Hopes for trade pact buoy European stocks as Publicis and Hugo Boss hit by warnings

Link to MarketWatch's Slice.