HONG KONG: Esprit in first-half profit warning
Hong Kong-based clothing brand Esprit has issued a first-half profit warning as the company continues with efforts to restructure its business.
Esprit yesterday (18 December) said it expects to record a loss for the six months to the end of December. It blamed worse-than-expected operating results for the period after the group's first quarter results.
The company said it will continue to focus its efforts on rebuilding and revitalising the brand, overhauling its products including an improvement in quality, and to provide better efficiencies in its supply chain and distribution channels.
Esprit also said it believes these actions will help return the group to growth when the market recovers.
Last month, the clothing brand saw its share price rise after a rights issue was more than seven times oversubscribed.
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....
Apparel sales in the Asia Pacific region are continuing on a golden growth trajectory despite a slowdown in China. Domestic brands are continuing to hold their own, and foreign brands intent on making...
The Zero Discharge of Hazardous Chemicals (ZDHC) Group has launched version two of its Joint Roadmap, aimed at attaining a "new standard of environmental performance for the global apparel and footwea...
Fast Retailing, the owner of Japanese casual clothing brand Uniqlo, is continuing to review the Accord on Fire and Building Safety in Bangladesh....
- Low labour cost countries linked to highest risks
- Why should brands care about China cotton?
- UK reshoring hub hit by sweatshop claims
- New fibre and fabric innovations for outdoor wear
- China cotton: implications and opportunities
- South Africa to grow grass for recyclable textiles
- US West Coast port contract reached
- 30% of Adidas cotton from sustainable sources
- Activewear driving US apparel spend
- Benetton to embark on living wage roadmap
- Outdoor performance apparel: peaks, valleys, and green fields
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Global market review of swimwear - forecasts to 2019
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Apparel Retail: Top 5 Emerging Markets Industry Guide