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.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"