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Esprit Closes 100 Stores In Europe With Poorly Managed Stores

2014/2/13 20:01:00 46

P EspritHoldingsLimited EspritHoldingsLimited said it would close some stores which were poorly managed by France. The plan is part of the group's streamlining of expenditure. It is expected to lay off 100 people in the next year to a year and a half, and the closing scheme will also affect other European countries. 
 there is news that Esprit Si Jie global will close 17 stores in a href= "//www.sjfzxm.com/news/index_p.asp" > France < /a >, accounting for half of the total number of stores in this area. However, Esprit think global did not disclose specific data and said it would arrange layoffs for employees. 
Prior to the January 13, 2014 P stock market, EspritHoldingsLimited think Global Holdings Limited issued a profit forecast. It is expected that the group's performance in the first half of fiscal year December 31, 2013 will turn a profit and make a slight profit. The main reason is that the management team has succeeded in reducing operating expenses by cutting costs. 
"P > CreditSuisseGroupAG (VTX:CSGN) Credit Suisse said that EspritHoldingsLimited (0330.HK) Si Jie Global Holdings Limited's surplus joy is not driven by sales, so it can not ease the anxiety of the brand. Si Jie Global Holdings Limited said in its announcement that it achieved a slight profit mainly because the management team succeeded in reducing operating expenses by cutting costs. 
 > for this reason, < a href= "//www.sjfzxm.com/news/index_c.asp" > CreditSuisse < /a > Credit Suisse has increased EspritHoldingsLimited (0330.HK), the target price of Si Jie Global Holdings Limited has reached HK $9.25, but the price is still almost 50% lower than the current price of HK $15. CreditSuisse Credit Suisse was disappointed that sales of EspritHoldingsLimited (0330.HK) < a href= "//www.sjfzxm.com/news/index_c.asp" had not improved, reflecting that the work of rebuilding the brand still needs to continue. Although profits in the first half of the year will be small, the profitability of the second half of the year will be generally depressed, sales and gross margins will be relatively low, and operating expenses will be high, and there will still be a great opportunity for a significant loss throughout the year. To this end, CreditSuisse Credit Suisse has cut the EspritHoldingsLimited (0330.HK)'s global operating expenses ratio to 46% in the year, and expects annual sales growth to drop by 1%, while the previous forecast is 2% growth. 
 except for CreditSuisseGroupAG (VTX:CSGN) Credit Suisse, Barclay (BarclaysPLC) also believes that "Ying Xi" does not have surprises, only in line with the company's expectations. Barclays maintains its "reduction" rating and target price of 9.8 yuan. 
Less than P, however, MacquarieCapita Macquarie of the investment bank continues to look at EspritHoldingsLimited's global fortune, believing that its business is changing. It expects to earn HK $300 million a year and maintain its "win over the market" rating with a target price of HK $20.52. 
 EspritHoldingsLimited (0330.HK) Si Jie Global Holdings Limited will release its interim results in February 21st.