Hugo Boss Rises More Than 4%; Outlook May Be Cautious, Analysts Say

• (PLX AI) - Hugo Boss shares rose more than 4% after the company gave a new outlook last night.
• • Second quarter earnings were double consensus estimates on the EBIT level
• • Now sees EBIT EUR 125-175 million for the year
• • Guidance could be cautious but reflects the limited visibility on macro environment, plus reinvestments, analysts at Bank of America said
• • The guidance implies revenue growth and EBIT margin only very slightly improving compared to Q2, BofA said
• • Investor focus likely to shift now to the Aug. 4 Capital Markets Day, when the new CEO will detail a new strategy likely to focus on growth, brand repositioning and casual wear, BofA said
• • BofA rates Hugo Boss neutral, with price target raised to EUR 54 from EUR 50