The market responded well to the brand’s upbeat statement that it is on track to be profitable again. WGSN Global News Editor Nigel Taylor reports
Esprit shares have jumped as much as 23% despite the fashion retailer’s poor showing in Q1.
How so? The market responded well to Esprit’s upbeat statement that it is on track to be profitable again.
“Esprit will enter its growth phase of driving top-line growth from FY16 by improving store efficiency,” said Deutsche Bank, which expects Esprit to remain in red for the year ended September 30 2016, but could return to profitability in the following year.
Esprit closes up 22.6% to HK$8.24, near its day-high.
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