HK-listed fashion group Esprit falls as H1 loss widens

Esprit Holdings

27/02/2019 02:04

** Shares of Esprit Holdings Ltd  0330.HK  fall as much as
10.8 pct to HK$1.82, the lowest since Feb. 20, after the fashion
group posted a bigger loss for the first half amid changes in
consumer behaviour and price competition 
    ** The Europe-focused clothing retailer also blames a
reduced customer traffic across its distribution channels due to
weakness of its brand leading to the bigger loss of $225.5
million for the six months ended December  urn:newsml:reuters.com:*:nL3N20L3FD
    ** Co expects its revenue to further decline in the next two
financial years due to closure of loss-making stores, while
underlying operating profit is expected to achieve breakeven in
two to three years' time
    ** As of the previous close, the stock had risen 30.8 pct so
far this year
    ** Esprit has outperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 17.8 percentage points in the past one
month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  eases 0.3 pct, and the benchmark index
 .HSI  gains 0.5 pct

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)