|Esprit flags cloudy second half, books HK$95m income
Retailer Esprit (0330), which is continuing efforts to turn its fortunes around, booked earnings of HK$95 million for the six months to December 31. Revenue shrank by 5.5 percent to HK$12.8 billion amid store closures including those in China.
Esprit said the outlook for the second half “remains uncertain,’’ largely as a result of the transformation of the business.
Turnover from Esprit branded products dropped by 8.5 percent, the company said.
Performance of the men’s divisions is not yet stable, Esprit said, adding that the women’s divisions have stabilized.
Retail performance in Asia Pacific was weak, the company said. In the region,
retail turnover tumbled by 14.5 percent year-on-year.
Esprit expects a further fall in turnover for the full year.—The Standard