Hong Kong-based fashion company Esprit Holdings has reported a 9.1% decline in first quarter earnings.

The retailer said in a stock exchange update that sales during the three months ending 30 September reached HKD$8.5bn (US$1.1bn). Same-store sales decreased 0.1%.

Esprit's retail sales during the quarter rose by 10.8%, but wholesale revenues fell 12.8% and licensing was down 28.7%. Retail makes up more than half of Esprit's revenues.