×
83 718
Fashion Jobs
JCPENNEY
Senior Manager, Creative Operations (Samples And Creative Technology) â€" Marketing
Permanent · Plano
JCPENNEY
p&a Business Analyst - Women's Active
Permanent · Plano
LEVI'S
Senior Business Analyst, Global Distribution
Permanent · Henderson
NIKE
Marketplace Operations Business Analyst
Permanent · Beaverton
NIKE
Director, Retail Brand Marketing Men’s Performance & Lifestyle
Permanent · Beaverton
NIKE
na Retail Brand Marketing Manager Men’s Performance (Running)
Permanent · Beaverton
FOOT LOCKER
sr. Manager of Operations - Distribution Center
Permanent · Camp Hill
TAPESTRY
Manager, Materials
Permanent · New York
ESTÉE LAUDER
Keyholder - Cosmetics Company Store - 20 Hours - Settlers Green Outlets - North Conway, nh
Permanent · Conway
ESTÉE LAUDER
Lead Security Engineer - Enterprise Cybersecurity And Risk
Permanent · New York
GAP INC
Senior Product Manager – Retail Labor Optimization
Permanent · San Francisco
GAP INC
Associate Production Manager- Licensing- Old Navy
Permanent · San Francisco
GAP INC
Senior Asset Protection Manager
Permanent · McLean
NEW BALANCE
sr. Manager, Value Chain Business Operations (Project Management)
Permanent · Lawrence
CENTRIC BRANDS
Account Manager - Amazon
Permanent · New York
CENTRIC BRANDS
Human Resources Business Partner (Hrbp)
Permanent · New York
ULTA BEAUTY, INC.
Regional lp Manager
Permanent · Los Angeles
BANANA REPUBLIC
Asset Protection Service Representative - Bay Ridge
Permanent · New York
BANANA REPUBLIC
General Manager - Burlingame
Permanent · Burlingame
GAP
Asset Protection Service Representative - Fulton Street Mall
Permanent · New York
GAP
Manager - Marketing Production
Permanent · New York
ADIDAS
Digital Production Project Manager
Permanent · Portland
By
Reuters
Published
Aug 28, 2008
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Esprit H2 profit up, but lags forecasts

By
Reuters
Published
Aug 28, 2008

HONG KONG (Reuters) - Esprit , the world's No.5 fashion retailer, lagged forecasts with a 12.5 percent rise in second-half profit, as waning consumer sentiment in its core European market offset a strong euro and sales growth elsewhere.


Esprit Campaign

Esprit, which is fighting for a larger share of Asia's booming fashion markets and invests up to $40 million annually to expand in North America, had been in the market for acquisitions, especially of a premium brand.

But executives told reporters on Wednesday the retailer will hold off on from any acquisitions because of lingering uncertainty over the outlook for global economic growth.

Esprit, which competes with Hennes & Mauritz , Benetton and Gap , derives nearly nine-tenths of its revenue from Europe and half its turnover from Germany alone.

It is pushing into developing markets such as China, where it runs a venture with China Resources Enterprise Ltd , and Eastern Europe, hoping to drive future growth.

German business and consumer morale has hit multi-year lows as Europe's biggest economy shrank in the second quarter, raising the spectre of recession. [nBAE001352]

Esprit, which sells everything from bath towels to shoes, posted January-June net profit of HK$3.15 billion ($404 million), up from HK$2.8 billion a year ago, missing an average estimate of HK$3.44 billion from 17 analysts polled by Reuters Estimates.

Shares in the retailer lost more than 30 percent in January-June as investors predicted consumers would spend less due to a weaker U.S. economy. Hong Kong's benchmark Hang Seng Index .HSI fell 20.5 percent during the same period.

In July, Esprit said its deputy chairman and group chief financial officer John Poon resigned to pursue other interests.

For full earnings statement, click here 80827203.pdf

British clothing retailer Next Plc last month posted a 6 percent fall in first-half underlying sales, in line with forecasts, and said it expected a similar decline in the second half.

Rival Marks & Spencer posted a 6.2 percent drop in like-for-like clothing and homeware sales in the 13 weeks to June 28. Same-store sales at discount chain Primark were close to flat in the 16 weeks to June 21.

($1=HK$7.807)

(Writing by Joseph Chaney, Editing by Ian Geoghegan)


By Parvathy Ullatil

© Thomson Reuters 2022 All rights reserved.