Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Esprit's turnaround strategy pays dividends

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.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.