71
Fashion Jobs
L'OREAL GROUP
Multi-Brand Education Manager
Permanent · JOHANNESBURG
L'OREAL GROUP
E-Commerce Manager
Permanent · JOHANNESBURG
BEIERSDORF
Brand Manager
Permanent · DURBAN
G-STAR
Key Account Manager
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
PUMA
Payroll Administrator
Permanent · CAPE TOWN
ADIDAS
Senior Manager Sales: Shoe Channel - em South
Permanent · CAPE TOWN
ADIDAS
Senior HR Business Partner (6-Months Maternity Cover)
Permanent · CAPE TOWN
L'OREAL GROUP
Product Manager
Permanent · JOHANNESBURG
TREK
Country Manager
Permanent · SANDTON
L'OREAL GROUP
E-Commerce Key Account Manager
Permanent · JOHANNESBURG
BEIERSDORF
Precision Marketing & Audience Specialist
Permanent · DURBAN
CLINIQUE
Clinique - Roamer - Edgars Eastgate, Gauteng - 40 Hours - Full-Time - Permanent
Permanent · JOHANNESBURG
PANDORA
Sales Assistant Ppt 96 Hours Balito
Permanent · DURBAN
L'OREAL GROUP
Data Analyst
Permanent · JOHANNESBURG
HTNK
High-End Fashion/Denim Designer
Permanent · JOHANNESBURG
H&M
Talent Acquisition Specialist
Permanent · CAPE TOWN
ADIDAS
Specialist Franchise Excellence - Ems Africa Export
Permanent · CAPE TOWN
LOVISA
Full Time Team Member | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
LOVISA
Store Manager | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
PANDORA
Sales Assistant Pavillion
Permanent · WESTVILLE
By
Reuters
Published
Sep 20, 2017
Reading time
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Fashion group Esprit profit jumps threefold; sees slight revenue dip

By
Reuters
Published
Sep 20, 2017

Fashion group Esprit Holdings Ltd on Wednesday reported a more-than-threefold rise in full-year profit that came in slightly above the midpoint of the company’s forecast as it trimmed operating costs.


People shop at an Esprit Outlet store in Singapore September 10, 2013.


The Europe-focused clothing retailer is undergoing a multi-year revamp that includes store closures, price adjustments, new return policies, and technology and distribution upgrades.

Esprit said net profit rose to HK$67 million ($8.6 million) for the year ended in June from HK$21 million a year earlier.

The company last month forecast a net profit in the range of HK$50 million to HK$80 million for the full year.

Revenue fell to HK$15.9 billion from HK$17.8 billion, the company said.

“Growth will only come progressively as the Group still faces a downsizing process in its wholesale and retail space (as loss-making retail stores still need to be closed),” Esprit said in a statement to the Hong Kong stock exchange.

The company expects controlled retail space to shrink by single digits in percentage terms in the new financial year, while revenue is seen falling marginally.

However, the retailer forecast an improvement in gross profit margin as it continues to cut down on discounts and promotions. Operating expenses are expected to come down by single digits in percentage terms.

Bigger rival Swedish fashion retailer H&M said in June it would struggle to hit its sales target this year after falling short in the first half, and as key markets such as China and the United States remain challenging.

Shares of Esprit have fallen more than 20 percent so far this year. That compares to a 28 percent rise in the benchmark Hang Seng Index .HSI in 2017.
 

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