We're on Google+
Search
Tag Cloud
Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news food grocer group launch luxury morrisons my online online retail people profit property retail property retailer sale sales supermarket waitrose
Esprit shares fall 22% as chief exits Wednesday, 13th June 2012
Image courtesy of Esprit press office
Shares in fashion retailer Esprit have dipped after the company announced that chief executive Ronald Van der Vis has left.
Esprit’s shares fell up to 22 per cent to HK$10.46 on the Hong Kong Stock Exchange.
The retailer has recently been trudging through a rough patch as consumer demand in Europe continues to wane as the market battles economic uncertainty.
In February the company reported a 74 per cent fall in profits for the July to December period in comparison to the year before.
As a result of this underperformance, the firm announced plans to restructure its business model. It plans to shut all of its North American stores and shift its focus to the Far East.
According to analysts, Van der Vis’s departure has shaken investors as concerns about the future of the restructuring mount.
Related Stories
Posted in fashion, Fashion News, People Tagged Esprit, Fashion, Womenswear, HR News, People, my, retail, media, news
