24Hours jeans by Esprit and Isko
11 Sep. 2013
Esprit announce significant losses for 2013Esprit has announced further decline in revenues for the last financial year 2012/13 that ended June 30, 2013. According to the Hong Kong and Ratingen based company, the deficit for the Fiscal year aggregate is a total 439 billion Hong Kong dollars (426 million euros), compared to a profit of 873 million HKD that was generated last year. The operating result (EBIT) is a loss of 4.17 billion HKD, compared to an operating profit of 1.17 billion HKD in the last fiscal year.
Sales were down 14.1% to 25.9 billion HKD (currency-adjusted 11.5%), which is due to weak business development, the separation of the U.S. business, as well as the closure of loss-making stores. For Germany, the company reported a decline in sales to 11.6 billion HKD (1.1 billion euros) compared to 13 billion HKD in the previous fiscal year.
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