CASUAL wear chain Esprit, that is also an important distributor of intimate apparel, announced first half results that showed a 13 per cent decline in sales, to EUR 1.09bn. This led to a loss of HKD 238m, equivalent to EUR 27.6m. A year earlier the company had declared a net profit of HKD 47m. CFO Thomas Tang commented that the results were much in line with predictions made at the end of the preceding full year.
The chain still has a long way to go before it can resume to strong performance of earlier decades.