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Hugo Boss Turns To Net Profit In Q2; Backs FY21 Forecast - Quick Facts

German luxury fashion brand Hugo Boss AG (HUGSF.PK) reported Wednesday that its second-quarter net income was 25 million euros, compared to loss of 186 million euros a year ago.

Earnings per share were 0.34 euro, compared to loss of 2.69 euros last year.

HUGO BOSS generated an operating profit or EBIT of 42 million euros, compared to minus 250 million euros last year.

Sales for the quarter surged to 629 million euros from 275 million euros a year ago. Currency-adjusted Group sales increased 133 percent. Sales remain only 4 percent below pre-pandemic 2019 levels.

Looking ahead, HUGO BOSS said it is confident that its overall business recovery will continue in the second half of 2021.

The company continues to anticipate EBIT for fiscal 2021 to amount to between 125 million euros and 175 million euros, compared to last year's minus 236 million euros.

Currency-adjusted Group sales is still expected to increase by between 30 percent and 35 percent from last year's 1.95 billion euros, with a contribution expected from all regions.

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