Shares in Esprit have dived after the company issued a full-year profit warning on the back of restructuring costs.

Stock fell 10.1% to HK$19.64 a share after the company said in a filing to the Hong Kong Stock Exchange that its net profit for the year ended 30 June will record a "significant decrease". It attributed the downgrade to one-off costs related to restructuring of its store operations.

It expects its revenue to "remain similar" to the year ended 30 June 2010.

Esprit will release its full-year results on 15 September.