Esprit Group returned to profit in 2015/16, boosted by increased retail productivity and a rejuvenated ecommerce offering.
The £2.1m profit follows four consecutive years of losses. In the 2014/15 financial year the business suffered a trading deficit of £369m.
Total revenue from the group’s global retail sales fell 1.1% to £1.78bn. However, the company said it reduced its floor space by 13.1%, reduced overheads and increased efficiency, making the business profitable again.
Online sales grew 15.3% and now account for 23% of total revenue.
Germany remains the Esprit’s strongest market, accounting for 48% of total sales. The rest of Europe makes up 37%, while 15% of sales come from the Asia Pacific region.
Group chief executive Jose Manuel Martínez said 2015/16 said: “[We have seen a] successful development of the most critical elements of our strategic plan.
“We are especially encouraged by the noticeable gain in the sales-per-square-metre performance of our retail space and the sales growth achieved by our e-shops.”