Esprit sends out profit alert

Esprit sends out profit alert

Clothing chain Esprit has sent out a profit alert after it had weaker results both in China and Europe. Those will lead to a loss in its broken fiscal year, which ends in June.

Warm weather is the culprit

Esprit's Chinese turnover drop grew up to double-digit numbers, forcing the chain to write off 300 million euro. Its European performance is also lackluster: a warm autumn has led to weak sales for the fall and winter collections. The company also had to deal with an onerous year two years ago, but it made up for that last year, but it seems Esprit has not been able to turn the tide completely.

 

CEO Jose Manuel Martinez does mention the company is debt-free and that the future looks bright for the company which will soon celebrate its 50th birthday. Esprit currently sells its own collections and licensed collections through its own store network, which consists of some 1,000 stores in more than 40 countries.

Questions or comments? Please feel free to contact the editors


Italian gelato is European market leader

11/08/2017

Italian cuisine is revered all across the globe, with people often thinking of pizza and pasta. However, Italians also have an ironclad reputation when it comes to ice cream. This is also reflected in sales, because Italians are the European market leader.

Oprah Winfrey and Kraft Heinz join forces

10/08/2017

American tv star Oprah Winfrey has joined forces with Kraft Heinz to develop a range of “healthy and nutritious soups and side dishes”. The range, currently only available in the United States, should help Kraft Heinz generate turnover growth once more.

Ahold Delhaize continues to struggle in Belgium

09/08/2017

Belgian-Dutch supermarket group Ahold Delhaize has had a very good second quarter, with the company thinking last year's merger could result in lower costs than previously anticipated. On the other hand, Belgium's performance is still weak.

Sainsbury’s wants to cut 1,000 jobs

07/08/2017

Sainsbury’s, the second largest supermarket chain in the United Kingdom, is allegedly planning to cut 1,000 office jobs in order to save up to 500 million pounds (550 million euro).

Higher Kraft Heinz profit despite lower turnover

04/08/2017

Food company Kraft Heinz’ second quarter like-for-like turnover dropped slightly, but the American company did manage to seriously enhance its profitability.

Max Koeune becomes new McCain CEO

03/08/2017

Max Koeune will become potato processing company McCain Foods’ new CEO. The Canadian family business revealed the news after its current CEO, Belgian Dirk Van de Put, moved to the world’s largest snack manufacturer, Mondelez.

Back to top