Hugo Boss falls as it misses gross margin expectations, delays 2025 targets
** Shares in Hugo Boss BOSSn.DE fall 5%with analysts pointing to Q3 gross margin miss and disappointment over delaying 205 targets
** The company delayed its midterm targets for revenues of 5 billion euros and an operating profit margin of at least 12% beyond 2025, but could not say when it would be able to reach them
** Q3 gross profit margin of 60.2% misses analysts' estimate of 61.4%; EBIT drops 7% to 95 million euros, but above the analysts' expectation of 90 million euros
** "We think the (EBIT)beat is actually not the best quality, wholesale continues to run much faster than retail and gross margin is much softer than we had expected, negatively impacted by freight, channel/regional mix and high promotions," Jefferies says
** Stock is at the bottom of Germany's mid-cap index .MDAXI and among the worst performers of STOXX 600 .STOXX index
** If losses hold it will see its worst day in four months
($1 = 0.9182 euros)
Reporting by Ozan Ergenay and Linda Pasquini
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