Home / Knowledge / News / Fashion / 'Esprit will emerge as bigger & stronger company' - Mr Heinz

'Esprit will emerge as bigger & stronger company' - Mr Heinz

Sep '09
Mr Heinz Jürgen, Esprit Chairman & Group CEO
Esprit Holdings Limited announced final results for the year ended 30 June 2009. The Group's turnover base maintained stable year-on-year in local currency terms, or HK$34.5 billion, amidst macro headwind. Retail turnover recorded a 10.0% jump in local currency as customer demand remained resilient as shown by comparable store sales growth of 3.5%. The retail business now contributes over 47% (FY07/08: 43%) to Group turnover.

The Group generated operating profit of HK$5,729 million with an operating profit margin of 16.6% (FY07/08: 20.7%). This year, the selling space of retail and franchise stores each grew by around 15% as the Group expands capacity to maximise the upside potential when the market recovers. During the year, the Group improved operating efficiency through revamping the IT system and cost cutting initiatives. The net profit margin of the Group was 13.8% (FY07/08: 17.3%).

The Group maintained a net cash balance of HK$4.8 billion and the Board has proposed a final and special dividend of HK$2.05 per share, together with interim dividend paid, represents a dividend payout ratio of 75%.

"I have always believed in the strength of Esprit. This year, the robustness of our Company was put to the ultimate stress test. On many fronts, I am proud to see that the evidence of the resilience of our business model is abundant. Nevertheless, I see difficult times as a wake-up call and I have taken this opportunity to strengthen and consolidate the operating platform, all in preparation for future growth as the global economy recovers. I am convinced that Esprit will emerge as a bigger and stronger company," remarked Mr. Heinz Krogner, Chairman and Group CEO.

Esprit Holdings Limited

Must ReadView All

Pic: Shutterstock

E-commerce | On 18th Aug 2019

E-commerce sales grow faster in rural China in H1

Rural China saw faster growth in e-commerce sales compared to urban...

Pic: Steve Madden

Apparel/Garments | On 18th Aug 2019

Steve Madden acquires Italian footwear brand Greats

Steve Madden, a designer and marketer of fashion footwear and...

Pic: Shutterstock

Retail | On 18th Aug 2019

For every US retailer closing stores, 5 are opening: IHL

More than five retail chains are opening stores for every retailer...

Interviews View All

Top executives, Association

Top executives

'Support and Outreach' huge relief for MSMEs

Headhonchos, Textiles & allied industry

Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

August 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search