HONG KONG: Esprit expects to swing to H1 profit
Esprit's share price rose 1.78% to HKD15.98 today
Hong Kong fashion brand Esprit has seen its share price increase after it said it expects to return to profit in the first half, after reducing expenses.
The company, which is in the midst of a turnaround plan to focus more on fast fashion, said it expects to record a "slight profit" during the first half to 30 June, compared a loss in the same period of the prior year.
This, Esprit said, is mainly due to a reduction in operating expenses.
The news comes after the retail chain tweaked its turnaround plan in September, after it swung to a full-year loss of HKD4.3bn (US$554.5m).
Sales fell 11.5% in local currency terms to HKD25.9bn, mainly due to a decline in Europe as well as the decision to shutter its North American operations. Excluding the impact of the store closures, turnover fell 7.7% on the prior year to HKD25.52bn.
Esprit's share price rose 1.78% to HKD15.98 after the market closed this morning (23 January).
Canadean's "Esprit Holdings Limited : Retailing - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations. The profile contains a compan...
Some 190 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people in 2013....
Esprit has taken significant measures to overhaul its operations, distribution and branding through a high-cost transformation plan. However, with a focus on fragile Western Europe and intensely compe...
Introduction Footwear in United Arab Emirates industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018......
Introduction Footwear in Norway industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). The profile......
- Enthusiasm for tech in outdoor apparel on rise
- 2015: Welcome to the new fashion consumer
- New American Apparel CEO sees solid platform
- Outlook 2015: What's happening with sourcing?
- George at Asda on responsible retail journey
- EU exploring responsible garment supply chains
- Gap to close Piperlime division
- Kanati pulls production out of Pakistan
- Hanesbrands invests $1.5m in US hosiery plant
- US takes final step to WTO TFA implementation
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Li & Fung Limited (494) - Financial and Strategic SWOT Analysis Review
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- E-Textiles: Electronic Textiles 2014-2024