September 23, 2015 / 8:59 AM / in 2 years

Retailer Esprit swings to loss as China, weak euro weigh

HONG KONG (Reuters) - Clothing retailer Esprit Holdings Ltd (0330.HK) swung to a loss for the year ended June, weighed down by a slowdown in China and a weak euro, and said its retail sales area may shrink this year due to store closures or downsizing of unprofitable outlets.

People shop at an Esprit Outlet store in Singapore September 10, 2013. REUTERS/Edgar Su

Esprit reported a net loss of HK$3.70 billion ($477.45 million) for the year ended June 30, compared with a profit of HK$210 million a year earlier.

Turnover fell to HK$19.42 billion from HK$24.23 billion.

Esprit shares closed down 0.9 percent at HK$6.69 on Wednesday, compared with a 2.3 percent drop in the broader Hang Seng Index .HSI. Esprit shares have fallen 27.9 percent so far this year, compared with a 9.8 percent slide in the Hang Seng index.

($1 = 7.7495 Hong Kong dollars)

Reporting by Jessica Macy Yu; Editing by Anne Marie Roantree and Subhranshu Sahu

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