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Esprit Shares Plunge 19%


pl1
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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.

http://www.reuters.c...E78F0AQ20110916

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

Edited by pl1
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