Hugo Boss hopes for third quarter recovery

After reporting a 50 percent decline in sales amidst coronavirus fallout, Hugo Boss is saying they are now eyeing a third quarter recovery. The company is still looking at a very sluggish second quarter as they slowly begin to reopen their global network of stores.

Europe and North America, which account for 85 percent of Hugo Boss's sales, were some of the toughest hit regions by coronavirus after China. Many stores in Europe and North America are still closed due to lockdown measures enacted by governments to curb the spread of coronavirus.

Hugo Boss isn't expecting a complete rebound in quarter three, but is projecting gradual improvement in the market, and certainly a rebound from a 50 percent sales drop at least. To date, all of Boss' stores have reopened in China.

photo: courtesy of Hugo Boss