HK-listed fashion group Esprit falls to all-time low on H2 loss estimate amid virus woes

Esprit Holdings

17/03/2020 05:24

** Shares of fashion group Esprit Holdings Ltd  0330.HK 
fall as much as 11% to HK$0.89, their all time low since listing
in December 1993 
    ** The stock later trims loss to HK$0.92, still down 8%, and
is on track for a second consecutive session of decline
    ** The Europe-focused clothing retailer expects to incur
considerable loss in H2 of the current fiscal year ending in
June as a coronavirus outbreak has hit sales significantly
 urn:newsml:reuters.com:*:nFWN2B90C3
    ** Esprit says apparel retail sentiment is at its lowest and
traffic in its retail stores and partners' points of sale has
subsided amid the pandemic and logistics of the supply chains of
merchandise shipments are affected
    ** As of the previous close, the stock had fallen 36.3% so
far this year
    ** Esprit has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 11.0 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
gained 1.1%, and the benchmark index  .HSI  rises 1.2%

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