×
72 397
Fashion Jobs
ROSS
Store Protection Specialist
Permanent · Commerce
NEIMAN MARCUS
Loss Prevention Investigator
Permanent · Troy
OLD NAVY
Assistant General Manager, Customer Operations - Cross County s/c
Permanent · YONKERS
GAP
General Manager - Hilton Head Tanger
Permanent · BLUFFTON
OLD NAVY
Assistant General Manager - Woodbury Common
Permanent · WOODBURY
OLD NAVY
General Manager - Northside Marketplace
Permanent · NASHVILLE
BANANA REPUBLIC
General Manager - San Francisco Premium Outlet
Permanent · LIVERMORE
NORDSTROM
Assistant General Manager- Ruscello- Ridgedale Center
Permanent · Minnetonka
NORDSTROM
Manager - Asset Protection - Fig at 7th Rack
Permanent · Los Angeles
NORDSTROM
Sales Manager, Nordstrom Media Network - Hybrid
Permanent · Seattle
NORDSTROM
Retail Stock & Fulfillment - Ross Park
Permanent · Pittsburgh
NORDSTROM
Asset Protection - Agent - Arrowhead Crossing Rack
Permanent · Peoria
NORDSTROM
Asset Protection - Agent - Valley Fair
Permanent · San Jose
NORDSTROM
Sales Manager, Nordstrom Media Network - Hybrid
Permanent · Seattle
NORDSTROM
Asset Protection - Agent - Galleria at Roseville
Permanent · Roseville
ABERCROMBIE KIDS STORES
Abercrombie Kids - Manager in Training, Green Hills
Permanent · Nashville
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Seattle Outlets
Permanent · Marysville
ABERCROMBIE AND FITCH CO.
Part/Full-Time Fit Consultant (Size 4)
Permanent · Columbus
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Manager in Training, Savannah Outlets
Permanent · Pooler
COACH
Coordinator, Supply Planning
Permanent · New York
COACH
Senior Manager, Omni Operations
Permanent · New York
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Victoria
Translated by
Nicola Mira
Published
Feb 28, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Esprit downsizes, reduces losses in H1 2019-20

Translated by
Nicola Mira
Published
Feb 28, 2020

Esprit has been struggling in recent years and, while it is busy rationalising its store network, it still has a great deal of work to do. In H1 of the 2019-20 financial year, closed on December 31 2019, sales for the German fashion group based in Ratingen, near Düsseldorf, fell by 11.8% to HKD5.76 billion (€679.5 million).


The Esprit store in Beijing - ESPRIT


Yet, considering that in the period in question Esprit’s total retail area fell by 14.8%, the group’s revenue has actually improved in like-for-like terms.

Net losses in H1 2019-20 shrunk hugely, down to HKD331 million (€38.7 million), as opposed to the HKD1.773 billion (€207 million) loss recorded in the same period the previous financial year.

“Despite a troubled market situation, the group’s six-monthly performance was in line with our expectations. We have already made remarkable progress, having accomplished much in a short period of time,” said Esprit's CEO Anders Kristiansen.

Esprit’s worst losses were recorded in Asia. In Germany, the group’s leading market, where it still generates over a third of its sales, revenue fell by 12%, down to HKD2.05 billion (€239.6 million).

Esprit posted its best H1 performance in the wholesale channel in Germany, where sales fell by only 0.9% to HKD1.06 billion (€123.9 million).

The rest of Europe generated sales of about HKD1.7 billion (€198.6 million). In Asia, total H1 revenue was HKD356 million (€41.6 million). Esprit's e-tail site produced sales for about HKD1.61 billion (€189.2 million).

The group's board is optimistic about the prospects for the rest of the 2019-20 financial year. “We are satisfied with the direction of the group’s financial results. We are on the right track in implementing our strategic plan, encouraged by the progress made in H1. Esprit is on the way back to recovery,” said Kristiansen.

Copyright © 2023 FashionNetwork.com All rights reserved.