Hugo Boss expects virus hit to worsen before recovery

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The company reported first-quarter sales of 555 million euros ($605.34 million), ahead of average analyst forecasts for 548 million, while its loss before interest and taxation came in at 14 million, bigger than average forecasts for 6 million.

It expects second-quarter sales to fall by at least 50% but said it is confident the retail environment will gradually improve from the third quarter, positively impacting sales and earnings in second half of year.

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