*

Expects FY sales at 4.20-4.35 bln euros, EBIT at 350-430

mln

euros

*

Q2 EBIT of 70 mln euros misses expectations

*

Shares fall 10%, hitting lowest level since April 2021

(Adds analyst comment in paragraph 4 and 7, shares in paragraph

6, context in paragraphs 8-9)

By Gursimran Mehar and Linda Pasquini

July 15 (Reuters) - German fashion house Hugo Boss

cuts its sales and earnings forecasts for the year,

citing weakening global consumer demand, especially in China and

the UK, sending its shares down as much as 10%.

It now expects full-year sales to fall between 4.20

billion euros ($4.58 billion) and 4.35 billion euros, compared

with a previous forecast of 4.30 billion to 4.45 billion euros.

It also anticipates its operating profit (EBIT) to be around

350 million euros to 430 million euros, down from a previous 430

million euros to 475 million euros. It reported operating profit

of 410 million euros in 2023.

Its second-quarter operating profit (EBIT) amounted to

70 million euros on a preliminary basis, representing a "massive

33% miss" compared with market expectations, Deutsche Bank

analyst Michael Kuhn wrote in a note to clients.

The premium clothing brand has been on an expansion drive,

increasing marketing spend and opening 102 new points of sale in

2023, but its shares have fallen this year as it warned of

slower sales growth.

Hugo Boss shares were down 9% at 36.7 euros by 0710 GMT,

hitting their lowest level since April 2021.

"The critical question now will be whether guidance has

been cut enough to de-risk 2024 and provide a clearing event

that the stock's narrative can rebuild from," analysts at

Jefferies wrote.

Hugo Boss' initial guidance for the year had already

disappointed

analysts expectations in March.

Along with its first-quarter results in May, the company

had

flagged

weaker demand in China and concerns about the U.S. consumer

sentiment ahead of presidential elections.

The world's biggest watchmaker Swatch and luxury group

Richemont flagged sluggish demand in China this week, while

Burberry ( BBRYF ) also issued a profit warning and scrapped its dividend

payment for the year.

($1 = 0.9179 euros)