A double-digit increase in retail sales, highlighted by dramatic growth in China, Russia and the Middle East, couldn’t save Esprit Holdings Ltd. from a decline in first-half profits.
The Hong Kong-based global retailer and wholesaler of apparel reported that during the six months ended Dec. 31, net income fell 13.4 percent to 2.85 billion Hong Kong dollars, or $366.9 million, from 3.29 billion Hong Kong dollars, or $422.7 million, a year ago. Earnings translated into 2.29 Hong Kong dollars, or 29 cents, a diluted share versus 2.64 Hong Kong dollars, or 34 cents.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)