Retailer Esprit rebounds from 20-year low after f'cast FY loss

Esprit Holdings

08/08/2018 06:41

** Shares of apparel group Esprit Holdings Ltd  0330.HK 
rebound from near 20-year lows on Wednesday, gaining 0.5 pct to
HK$2, on track to end five straight sessions of decline  
    ** Prior to the rebound, the shares fall as much as 2 pct in
morning trade to HK$1.95, the lowest since Oct 1998, after it
flags a loss for the fiscal year ended in June 2018  
    ** Europe-focused retailer expects full-year 2017/18 loss
around HK$2.55 billion ($324.86 million)  urn:newsml:reuters.com:*:nFWN1UY07E
    ** As of the previous close, the stock had fallen 52.39
percent so far this year
    ** Esprit has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 7.1 percentage points in the
past one month
    ** As of 0516 GMT, about 1.27 million shares of the apparel
group change hands, compared with their 30-day moving average of
3.55 million shares a day
    ** Among the 4 analysts that cover Esprit, the current
average rating on the shares is "hold"; the breakdown of
recommendations is three "hold" and one "sell" or "strong sell".
The analyst mean price target is HK$3.53 
    ** Hong Kong's benchmark index  .HSI  rises 0.5 pct
    ($1 = 7.8495 Hong Kong dollars)

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