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Hugo Boss Q2 Preliminary Revenues Up 40%; Raises FY Outlook

European Economics Preview: Germany Industrial Output Data Due

The minutes of the monetary policy meeting from the European Central Bank and industrial production from Germany are the major reports due on Thursday.

At 1.45 am ET, the State Secretariat for Economic Affairs is set to publish the Swiss jobless rate data. The rate is forecast to remain unchanged at seasonally adjusted 2.2 percent in June.

At 2.00 am ET, Destatis is slated to release Germany’s industrial production for May. Output is seen rising 0.4 percent on month, slower than the 0.7 percent increase in April.

In the meantime, UK Halifax house price data is due for June. House prices had increased 10.5 percent annually in May.

Also, industrial output from Norway and Denmark are due.

At 3.00 am ET, the Czech Statistical Office releases industrial production and foreign trade figures for May. Production is expected to fall 1.8 percent on year after falling 3.8 percent in April.

At 7.30 am ET, the European Central Bank is scheduled to issue the account of the monetary policy meeting of the Governing Council held on June 8 and 9.

Two Denver police officers injured after driver speeds away following crash

Two Denver police officers were injured Wednesday morning after a driver took off following a crash.

Officers responded to a two-vehicle crash around 7:15 a.m. in the 200 block of South Zenobia Street, said Kurt Barnes, a police spokesman. But as officers approached the cars, the driver sped away, injuring the officers, Barnes said.

Both sustained minor injuries. One was transported to the hospital for routine procedures, Barnes said.

No arrests have been made. Police are searching for a maroon vehicle believed to be involved in the incident.

FDA authorizes Novavax as fourth Covid vaccine for emergency use in US

The US Food and Drug Administration has authorized Novavax’s coronavirus vaccine for emergency use in adults, making it the fourth vaccine available to Americans.

The authorization on Wednesday is for people 18 years and older.

Novavax’s vaccine is a two-dose series that uses a different technology from the Pfizer, Moderna and Johnson & Johnson jabs that were previously approved.

Breaking story, check back for updates…

FDA Authorizes Novavax’s Covid-19 Vaccine

The U.S. health regulators have granted an emergency use authorization for Novavax Inc.’s (NVAX) Covid-19 vaccine.

The Food and Drug Administration issued EUA for the Novavax COVID-19 Vaccine, Adjuvanted for the prevention of COVID-19 caused by severe acute respiratory syndrome coronavirus 2 in individuals 18 years of age and older. The Novavax vaccine, given as two doses three weeks apart, could become available after the Centers for Disease Control and Prevention approves it.

FDA Commissioner Robert Califf said, “Today’s authorization offers adults in the United States who have not yet received a COVID-19 vaccine another option that meets the FDA’s rigorous standards for safety, effectiveness and manufacturing quality needed to support emergency use authorization.”

Novavax’ two-dose vaccine becomes the fourth COVID vaccine to be authorized for use in adults in the US, after vaccines of Pfizer, Moderna and Johnson & Johnson. However, the new option comes at a time when overall demand for vaccines and boosters have dropped substantially.

About 68% of the U.S. population has been fully vaccinated according to the CDC, while about 48% of fully vaccinated people have received a first booster dose.

On Monday, the federal government agreed to secure an initial 3.2 million doses of Novavax’s vaccine pending FDA authorization. The shots will be given at no charge at pharmacies and through state and local government vaccine programs.

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Authorities seize 50 pounds of crystal meth headed for Arapahoe County

Law enforcement in Texas found 50 pounds of crystal meth bound for Arapahoe County during a traffic stop, the Arapahoe County Sheriff’s Office said Wednesday on Twitter.

The stop near Dallas stemmed from an investigation launched in May, in which authorities identified a suspect believed to be smuggling large amounts of narcotics into Colorado from the southern border, the sheriff’s office said.

The suspect, who was not identified, lives in Arapahoe County.

Authorities on Wednesday did not divulge any additional details about the investigation.

Hugo Boss Q2 Preliminary Revenues Up 40%; Raises FY Outlook

German luxury fashion brand Hugo Boss AG (HUGSF.PK) reported that its preliminary group revenues for the second quarter rose 40% to 878 million euros from last year’s 629 million euros. It raised its outlook for the current fiscal year.

Currency-adjusted group sales for the second quarter increased 34% compared to the prior-year period.

Quarterly operating profit (EBIT) was 100 million euros, significantly above the prior-year level’s 42 million euros. The development mainly reflected the strong Group sales development as well as noticeable improvements in gross margin driven by an overall higher share of full-price sales.

The company now forecasts group sales in fiscal year 2022 to increase between
20% and 25% to a new level of between 3.3 billion euros and 3.5 billion euros. Previously, it expected annual group sales to increase between 10% and 15% to a level of between 3.1 billion euros and 3.2 billion euros.

EBIT in 2022 is now expected to increase between 25% and 35% to a level of between 285 million euros and 310 million euros. Previously, the company projected annual EBIT to increase of between 10% to 25% to an amount of between 250 million euros and 285 million euros.

The company will publish its full second quarter 2022 results on August 3.

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