Esprit Annual Loss Of HK $4 Billion 388 Million, Share Price Fell 5.6%

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< p > < a href= "http://news.sjfzxm.com/news/list.aspx? Classid=101112107105" > Esprit < /a > store > /p >

< p > Esprit Holdings Limited 3 billion 100 million of the 2012-13 fiscal year released today shows that as of June 30, 2013, the group's annual net loss was HK $4 billion 388 million, and its losses were higher than the market forecast of HK $3 billion 100 million, which achieved a net profit of HK $873 million last year.

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< p > > a href= "http://news.sjfzxm.com/news/list.aspx? Classid=101112107107" > "SG world wide /a" (0330.HK) has issued a profit warning in May, indicating that the four major factors led to a larger operating loss than expected: first, the impairment of the remaining rights and interests of China's associated companies was reduced by HK $1 billion 996 million; in addition, about 16 loss shops were closed, and 274 million HK dollars were lost; third the provision for 224 million contracts paid by 43 loss shops was 224 million Hong Kong dollars; finally, the additional inventory of the net realizable value of stocks was provisioning for 228 million Hong Kong dollars due to the change of estimation method.

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< p > compared with the previous fiscal year, the turnover decreased by 11.5% to HK $25 billion 902 million in local currency, mainly due to the decline of business performance and the strategic decision to divestiture the North American business and announce the closing of a loss shop in the financial year.

In addition to these effects, the adjusted turnover was calculated to be HK $25 billion 523 million in local currency, and a annual decline of 7.7%.

Gross margin was 49.6%, 130 basis points lower than last year.

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Europe is still the largest market in the group, with a turnover of HK $20 billion 301 million, a year-on-year decline of 7.9% in local currency, and a rise in turnover from 75.9% last year to 78.4%, mainly due to the divestiture of North American business. Germany is the largest market in the region, with a 6.5% decrease in turnover compared with second in the region of LLO, with a year-on-year decrease of 11%. < /p > P.

< p > > a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107108" > Asia Pacific < /a > turnover decreased by 6.7% to HK $5 billion 79 million. China is the largest market and group third largest market in the region, with turnover decreasing by 8%, of which retail business is 2%, and wholesale business is reduced by 22.9%. < /p >

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P 0330.HK expects that the turnover will decrease slightly in the 2013-14 fiscal year, and the gross profit margin will also decrease slightly.

Jose Manuel Martinez Gutierrez, chief executive of 0330.HK, told Reuters that the group would not record losses in fiscal year 2013-14, but he did not point out whether the group would turn a profit or break even.

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< p > in March of this year, Esprit Holdings Limited (HK:0330) Si Jie Global Holdings Limited, after five years of disappointing performance, was re hired by three former executives of the company, Jos, Manuel, Manuel, and ITX.MC, as the executive director and chief executive officer of the group before hiring Zara parent company and Spanish clothing retailer Inditex SA (ITX.MC) last year.

The new management team will be responsible for the pformation of Esprit Holdings Limited (HK:0330) Si Jie Global Holdings Limited in the next four years and a href= http://news.sjfzxm.com/news.

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< p > Esprit Holdings Limited (HK:0330) Si Jie globe fell 5.57% before September 10th closing, at HK $11.86.

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