By
Reuters
Reuters
Published
Feb 22, 2017
Feb 22, 2017
Retailer Esprit swings to profit in H1, revenue dips
By
Reuters
Reuters
Published
Feb 22, 2017
Feb 22, 2017
Esprit Holdings Ltd said on Wednesday it returned to a profit for its fiscal first-half, as the clothing company reduced its retail space and trimmed operating costs in response to weak consumer demand and tough online competition.
The Europe-focused retailer posted a net profit of HK$61 million ($7.9 million) for the six months ended in December, compared with a net loss of HK$238 million for the same period a year earlier.
Revenue for the period amounted to HK$8.32 billion, down from HK$9.3 billion a year earlier.
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