24Hours jeans by Esprit and Isko
24Hours jeans by Esprit and Isko

11 Sep. 2013

Esprit announce significant losses for 2013

Esprit 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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