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Esprit Shares Plunge 19%


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Shares of Europe-focused fashion retailer Esprit Holdings Ltd (0330.HK) plunged for the second day in a row on Friday, falling more than 20 percent after the company reported a worse-than-expected fall in full-year profit.

A 98-percent decline in profit announced at midday on Thursday led to 17 percent decline then and to a spate of downgrades by securities houses.

Traders voiced concerns about the company's medium-term business outlook despite Esprit's plans to restructure its business and reinvigorate its brand, brokers said.


Tailored their own problems and couldn't iron out their issues by the sounds of it.

Edited by pl1
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