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
Esprit Holdings welcomed its newest chief executive with a two-day stock decline and an analyst downgrade as the apparel retailer's earnings missed estimates for the fifth consecutive year.
After Jose Manuel Martinez Gutierrez took control on Wednesday, the stock fell 5.67 per cent to HK$11.64 yesterday.28 Sep 2012 - 2:54am
A deepening of the European debt crisis may hurt sales at clothing retailer Esprit, outgoing chief executive Ronald van der Vis warned yesterday.
Van der Vis resigned as the Hong Kong-listed retailer's chief executive and executive director yesterday, and will be replaced by former Inditex executive Jose Manuel Martinez Gutierrez.27 Sep 2012 - 3:48am
Oil paintings, sculptures, comfortable sofas, a walnut tea table and plenty of green plants.
These design elements - usually seen in galleries or coffee shops - have inspired Esprit to create its new-generation "Lighthouse" outlets.10 Sep 2012 - 3:30am
When Esprit last month announced it had hired a senior executive from rival Inditex - the company behind Zara - many took it as a sign the fashion retailer wanted to emulate its successful Spanish competitor as a way of revitalising its own brand.
But new chief executive Jose Manuel Martinez Gutierrez has other ambitions.10 Sep 2012 - 3:32am
The situation at Esprit is settling down. The share price of the Hong Kong-listed global fashion house has stabilised after it dropped 32 per cent in two days following the resignation of the chief executive, on June 12, and the exit of the chairman, on June 13.
A conference call was hosted on June 14 to soothe investors and that seems to have worked.25 Jun 2012 - 12:00am