×
339
Fashion Jobs
NIKE
India Logistics Partner Management Manager
Permanent · Bengaluru
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager (Jharkhand All District)
Permanent · Chatra
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager /Sales Manager (up)
Permanent · Mirzapur
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - wb
Permanent · Cooch Behar
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
MUTHOOT FINCORP LTD
Area Manager - Chennai
Permanent · Chennai
SUGUNA FOODS PRIVATE LIMITED
Area Sales Manager-Animal Health Products Sales (Bangalore)
Permanent · Bengaluru
DIAMOND RETAIL INDIA
Hiring For Sales Officer/Area Sales Manager/Sales Manager (Bihar)
Permanent · Katihar
VIJAY SYSTEMS ENGINEERS PVT LTD ( UMBERGOAN)
Production Manager
Permanent · Vapi
VIDVAS HR SOLUTIONS PRIVATE LIMITED
sr Manager - Production . Only Leather Bags Exp - Chennai
Permanent · Chennai
SHREE SADGURU MASALA & SPICES IND PVT LTD
Regional Sales Manager
Permanent · Navi Mumbai
MAGNATEK ENTERPRISES
Looking For Area Sales Manager
Permanent · Chennai
BANDHAN LIFE SCIENCE PRIVATE LIMITED
Area Sales Manager
Permanent · Kolkata
WINGS PHARMACEUTICALS
Area Sales Manager - Generic Division
Permanent · Ludhiana
FIRST SOLUTION
Agency Development Manager/Recruitment Development Manager(Insurance)
Permanent · Pune
NCL INDUSTRIES LIMITED (BISON PANEL)
Area Sales Manager - Hyderabad (Boards Division)
Permanent · Hyderabad
LN GLOBAL CAREER SERVICES LLP
Required Regional Sales Manager For Pharmaceutical Company
Permanent · Chennai
LN GLOBAL CAREER SERVICES LLP
Required Zonal Sales Manager For Pharmaceutical Company
Permanent · Chennai
LEVI'S
Group Product Manager
Permanent · Bengaluru
AVENUE SUPERMARTS LIMITED
Excellent Opportunity With Dmart _ Production Managers
Permanent · Chikmagalur
ENOAH I SOLUTION INDIA PRIVATE LIMITED
Area Sales Manager
Permanent · Bengaluru
KISHOR EXPORTS
Garment Technician
Permanent · Agra
By
Reuters
Published
Aug 27, 2008
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Esprit H2 profit up, but lags forecasts

By
Reuters
Published
Aug 27, 2008


www.Esprit.com

By Parvathy Ullatil

HONG KONG, Aug 27 (Reuters) - Esprit , the world's No.5 fashion retailer, lagged forecasts with a 12.5 percent rise in second-half profit, as waning consumer sentiment in its core European market offset a strong euro and sales growth elsewhere.

Esprit, which is fighting for a larger share of Asia's booming fashion markets and invests up to $40 million annually to expand in North America, had been in the market for acquisitions, especially of a premium brand.

But executives told reporters on Wednesday the retailer will hold off on from any acquisitions because of lingering uncertainty over the outlook for global economic growth.

Esprit, which competes with Hennes & Mauritz , Benetton and Gap , derives nearly nine-tenths of its revenue from Europe and half its turnover from Germany alone.

It is pushing into developing markets such as China, where it runs a venture with China Resources Enterprise Ltd , and Eastern Europe, hoping to drive future growth.

German business and consumer morale has hit multi-year lows as Europe's biggest economy shrank in the second quarter, raising the spectre of recession.

Esprit, which sells everything from bath towels to shoes, posted January-June net profit of HK$3.15 billion ($404 million), up from HK$2.8 billion a year ago, missing an average estimate of HK$3.44 billion from 17 analysts polled by Reuters Estimates.

Shares in the retailer lost more than 30 percent in January-June as investors predicted consumers would spend less due to a weaker U.S. economy. Hong Kong's benchmark Hang Seng Index .HSI fell 20.5 percent during the same period.

In July, Esprit said its deputy chairman and group chief financial officer John Poon resigned to pursue other interests.

For full earnings statement, click here 0827203.pdf

British clothing retailer Next Plc last month posted a 6 percent fall in first-half underlying sales, in line with forecasts, and said it expected a similar decline in the second half.

Rival Marks & Spencer posted a 6.2 percent drop in like-for-like clothing and homeware sales in the 13 weeks to June 28. Same-store sales at discount chain Primark were close to flat in the 16 weeks to June 21. ($1=HK$7.807) (Writing by Joseph Chaney, Editing by Ian Geoghegan)

© Thomson Reuters 2021 All rights reserved.