HONG KONG — Esprit Holdings Ltd. saw lower profits and sales in the six months ended Dec. 31 on the back of a lackluster wholesale business.
The company said Wednesday net profits slid 5.2 percent to 2.71 billion Hong Kong dollars, or $349.6 million at average exchange rates, while turnover decreased 3.1 percent to 18.5 billion Hong Kong dollars, or $2.39 billion. The company said its retail turnover grew 9.5 percent, whereas the wholesale environment remained challenging as buyers continued to purchase cautiously.
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)