BERLIN (Reuters) – German fashion house Hugo Boss (DE:) said it expected the impact of the coronavirus pandemic to be worse in the second quarter after it reported that sales fell a currency-adjusted 17% in the first, but added that it was seeing signs of a rebound in China and online.
The company reported first-quarter sales of 555 million euros ($605.34 million), ahead of average analyst forecasts for 548 million, while its loss before interest and taxation came in at 14 million, bigger than average forecasts for 6 million.
It expects second-quarter sales to fall by at least 50% but said it is confident the retail environment will gradually improve from the third quarter, positively impacting sales and earnings in second half of year.
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