German fashion brand Esprit reports H1 FY21 revenues of HK$886 mn

Esprit Holdings Limited, a Germany-based fashion brand, has reported revenues from both continuing and discontinued operations of HK$886 million (Hong Kong dollar) in its first half (H1) of fiscal 2021 that ended on December 31, 2020. The group’s operating loss from continuing operations (LBIT) for the six-month period was HK$2.7 billion.

 

Esprit Holdings Limited, a Germany-based fashion brand, has reported revenues from both continuing and discontinued operations of HK$886 million (Hong Kong dollar) in its first half (H1) of fiscal 2021 that ended on December 31, 2020. The group's operating loss from continuing operations (LBIT) for the six-month period was HK$2.7 billion.#

Gross profit for the period was HK$376 million. Loss attributable to shareholders of the company was HK$414 million.

 

Esprit Holdings Limited, a Germany-based fashion brand, has reported revenues from both continuing and discontinued operations of HK$886 million (Hong Kong dollar) in its first half (H1) of fiscal 2021 that ended on December 31, 2020. The group's operating loss from continuing operations (LBIT) for the six-month period was HK$2.7 billion.#

“As our own brand website and 3rd party e-commerce partners continued to trade during lockdown, a large portion of our sales were generated online, this business model allowed us to mitigate some of the negative impacts of the Pandemic in the retail segment,” group stated in a press release.

 

Esprit Holdings Limited, a Germany-based fashion brand, has reported revenues from both continuing and discontinued operations of HK$886 million (Hong Kong dollar) in its first half (H1) of fiscal 2021 that ended on December 31, 2020. The group's operating loss from continuing operations (LBIT) for the six-month period was HK$2.7 billion.#

Group’s retail sales (excluding outlet discount stores) in Europe fell 37 per cent to as compared to the sales in FY20. The lockdown restrictions imposed by various governments in Europe from impacted the sales, group stated. The wholesale channel also suffered from government restrictions and traffic decline with sales slipping 31 per cent year-on-year.

 

Esprit Holdings Limited, a Germany-based fashion brand, has reported revenues from both continuing and discontinued operations of HK$886 million (Hong Kong dollar) in its first half (H1) of fiscal 2021 that ended on December 31, 2020. The group's operating loss from continuing operations (LBIT) for the six-month period was HK$2.7 billion.#

As a result of lockdown measures, the group’s sales through the Esprit e-shop and 3rd party platforms performed comparatively better than other channels, and there was an overall improvement of 17 per cent year-on-year.

 

Esprit Holdings Limited, a Germany-based fashion brand, has reported revenues from both continuing and discontinued operations of HK$886 million (Hong Kong dollar) in its first half (H1) of fiscal 2021 that ended on December 31, 2020. The group's operating loss from continuing operations (LBIT) for the six-month period was HK$2.7 billion.#

“Though there still are uncertainties in the future, the group has already begun focusing on the growth and profitability of the Esprit brand. The company has major opportunities in existing areas of distribution, Europe, and endless potential through the development of a world-class digital platform,” group said in the release. “The company’s new digital development will cover areas including the digital design of products to strengthening retail customer experience.”