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
Feb 26, 2019
Download
Download the article
Print
Text size

Fashion group Esprit says first-half loss widens on brand weakness

By
Reuters
Published
Feb 26, 2019

Fashion group Esprit Holdings Ltd on Tuesday posted a bigger loss for the first half amid changes in consumer behaviour, price competition and reduced customer traffic across its distribution channels due to weakness of its brand.




The Europe-focused clothing retailer reported a net loss of HK$1.77 billion (£171.02 million) for the six months ended December, including a HK$924 million loss on provision for store closures and leases. That compared with a net loss of HK$954 million in the year-ago period.

Revenue slid to HK$6.77 billion from HK$8.04 billion.

Esprit said in November that it would cut about 40 percent of its non-store jobs and reduce the number of products it sells in stores as it restructures in the wake of tough competition from online and fast-fashion retailers.

To deal with the challenging environment, the apparel group said it would shut loss-making stores, restructure cost base and improve products offering, while time would be needed to draw customers back into its stores.

“Looking ahead, the group expects the next two financial years to be a period of transition,” Esprit said in a filing to the Hong Kong bourse, adding underlying operating profit was expected to achieve breakeven in two to three years’ time.

The group expects its revenue to further decline in the next two financial years due to closure of loss-making stores.

Shares of Esprit have risen 30.8 percent so far this year after a 62.74 percent plunge in 2018. That compared with an 11.3 percent gain in the benchmark index so far in 2019.

© Thomson Reuters 2024 All rights reserved.