German fashion group Hugo Boss AG on Tuesday reported the second quarter key financial figures , sales down 59% year on year and EBIT loss of 124 million euros.
Hugo Boss said it had closed 50 % worldwide stores in the second quarter, both retail and wholesale businesses had been severely affected by the COVID-19. Europe and Americas sales were respectively down 59% and 82%.
The bright spots mainly is online businesses and the Chinese market, Chinese mainland sales rose 4% than a year earlier, while online sales rise more than doubled.
T shirt ,polo, pants and casual wear sales better than formal suit , it take over half sales for the company .As the epidemic has reduced suits and formal wear demand , the group has actively catered the casual sports garment trend. following the lockdown gradually lifts,expect the suits and formal garment needs will return normal.
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