Shares in clothing retailer Esprit Holdings were set to open down 6.6 per cent on Wednesday after it warned of a substantial second-half loss due to soaring costs related to store closures and acquisitions in China.
The Europe-focused clothing and accessories retailer said after the market closed on Tuesday that it would record a goodwill impairment of between HK$1.8 billion to HK$2 billion related to the acquisition of the remaining interests of associated companies in China.
via Business feed http://www.scmp.com/business/money/market-snapshot/article/1232788/esprits-shares-fall-66pc-after-profit-warning
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