Hugo Boss shares plunge 9% as firm cuts 2024 guidance amid slumping China demand
Publishing timestamp: 2024-07-16 07:15:48
Summary
Hugo Boss shares plunged 10% after cutting sales outlook due to macroeconomic challenges, particularly in China. Company expects full-year sales of up to 4.35 billion euros, down from previous forecast. Other high-end fashion brands like Burberry and LVMH also reported slowdown in sales.
Sentiment: NEGATIVE
Tickers: BOSS-DE,
Keywords: breaking news: economy, business news, breaking news: business, hugo boss ag, luxury, business, retail industry, economy,