298
Fashion Jobs
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
L'OREAL GROUP
Retail And Education Manager
Permanent · HONG KONG
TORY BURCH
Senior Manager, Retail Training, Asia
Permanent · HONG KONG
By
Reuters
Published
May 6, 2009
Reading time
2 minutes
Download
Download the article
Print
Text size

Clariant first quarter net loss misses forecasts

By
Reuters
Published
May 6, 2009

ZURICH, May 6 (Reuters) - Swiss specialty chemicals company Clariant AG (CLN.VX) posted a net loss of 91 million Swiss francs ($80.60 million) on Wednesday 6 May, underperforming analysts forecasts, due to high restructuring costs and continued falling customer demand.


Clariant Textile Chemicals (www.clariant.com)

Clariant, which makes pigments for products from textiles to cars, posted a net profit of 41 million francs in the same period last year, but has been hit by high raw material prices, fierce competition from Asia and the global economic crisis.

The company had been expected to make a first-quarter net loss of 72 million francs in a Reuters poll of eight analysts.

The results showed first-quarter sales fell 24 percent to 1.604 billion francs, below analysts forecasts of 1.6919 billion francs.

In January, Clariant announced it would axe 1,000 jobs to cut costs, after posting a 5 percent drop in full-year sales.

Last week, Chief Executive Hariolf Kottmann said in a letter to staff that the bottom had been reached in most businesses but that he still saw few signs that the market was recovering.

The company in March announced that it would split up its textile, leather and paper business units by the end of 2009, raising the prospect of asset sales.

Clariant has set cash generation as a priority for the current year, with the aim of creating financial headroom for restructuring.

In the report released on Wednesday, it said that other priorities were to address unsatisfactory performance relative to its peers and weather the global economic crisis.

It forecast improved profitability in the next quarters, and expects stabilisation of demand, and significant cost reductions. ($1=1.129 Swiss Franc)

(Reporting by Josie Cox; editing by Simon Jessop)

© Thomson Reuters 2024 All rights reserved.