Esprit Holdings (HK stock code 330) is a clothing retailer and wholesale distributor with its primary listing in Hong Kong and a secondary listing in London. It has retail space in more than 40 countries and it also controls the RED EARTH brand name, distributing its cosmetic products in the Asia-Pacific region.
Esprit cannot "survive at the current level" of operating expenses, chief executive Jose Manuel Martinez said after a general shareholders meeting yesterday.Wednesday, 4 December, 2013, 6:27am
The struggling firm, from which two senior executives resigned within 24 hours last year, fell short of its own recovery targets. Esprit had estimated it would achieve 8 per cent to 10 per cent sales growth, but sales declined 11.5 per cent year on year instead.11 Sep 2013 - 4:45am 1 comment
Hong Kong-listed companies have issued almost 50 warnings over the past month about substantial profit declines or losses as the mainland economic recovery continues to look shaky.16 May 2013 - 4:12am 1 comment
Esprit expects sales to continue to decline over the next financial year and a turnaround for the struggling fashion retailer is not likely until next year.
Chief executive Jose Manuel Martinez Gutierrez told investors yesterday that store closures would lead to a further slide in sales revenue in the next financial year to June.15 May 2013 - 4:01am
The shares fell as much as 7.3 per cent in the morning before closing at HK$10.38, down 4.8 per cent on a day when the Hang Seng Index rose 0.86 per cent.9 May 2013 - 4:39am
The group said it expected to record a substantial loss in the second half of the year to June and hence an overall substantial loss for the full year. Esprit lost HK$465 million in the six months to December.8 May 2013 - 5:33am
Apart from trimming costly marketing and advertising campaigns, the load may be lightened by ditching a design team tailor-made for the mainland market, a team whose effectiveness was questioned by the fashion group's new chief executive, Jose Manuel Martinez Gutierrez.4 Mar 2013 - 4:39am
Embattled global casual wear retailer Esprit warned investors it might record a loss for the six months to December 31, owing mainly to worse-than-expected results since October.19 Dec 2012 - 2:37am
Shares in Hong Kong clothing retailer were down 15.9 per cent in early trade on Wednesday on the company’s plans to raise about HK$5.2 billion through a rights issue as part of a transformation plan to revive the brand.24 Oct 2012 - 10:52am