NEW YORK (dpa-AFX Broker) – The US bank JPMorgan has left HUGO BOSS on “neutral” with a price target of 80 euros. The latest quarterly reports from the European luxury goods groups Swatch, Burberry and Richemont brought little surprise in terms of sales and rather disappointed the already high expectations, analyst Chiara Battistini wrote in an industry study published on Tuesday. Hugo Boss, meanwhile, is in the early stages of a turnaround in sales under a new boss. She appreciates the new strategic focus on growth and market share gains. However, the fashion group is very dependent on European consumers, who are struggling with a more difficult environment and high living costs, which does not make it easier for Boss./gl/la
Publication of the original study: 07/17/2023 / 19:44 / BST First distribution of the original study: 07/18/2023 / 00:15 / BST
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