Chinese retailer Esprit Holdings Limited has posted declines in full-year sales and profit, citing the “tough macro environment”.
The company posted turnover of HKD$33.7bn (US$4.3bn) for the year ended 30 June, compared to $34.5bn in full-year 2009, a decrease of 2.4%.
Net profit for the period was $4.2bn, down from $4.7bn in the prior year, a 10.6% decline.
Fook Aun Chew, group chief financial officer, said: “Despite the tough macro environment, the group continued to achieve good results in delivering 9.3% retail turnover growth and an improvement in gross profit margin by 2.6 percentage points to 54.7% and expanding total selling space by 2.1% or 23,144 m2 year-on-year (wholesale and retail channels combined).”
Click here to view the company’s full financial statement.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
