**Esprit H1 Results Fall, But Brand Pledges Stronger Second Half**
Esprit’s first-half revenue fell 16.3% year-over-year, a decline that was in line with the company’s expectations. The fashion brand said it expects a stronger second half of the year.
**Revenue and Earnings**
Esprit reported revenue of $3.8 billion for the six months ended September 30, down from $4.6 billion during the same period last year. The company’s net loss widened to $255 million from a loss of $212 million.
Esprit’s gross profit margin fell from 54.4% to 51.4%. The company said the decline was due to higher costs for raw materials and logistics.
**Outlook**
Despite the disappointing first-half results, Esprit remains optimistic about the rest of the year. The company said it expects to see a significant improvement in revenue and profitability in the second half. Esprit is benefiting from strong demand for its casual wear and accessories, and the company is also expanding its e-commerce business.
**Strategic Initiatives**
As part of its turnaround plan, Esprit is focusing on a number of strategic initiatives, including reducing costs, improving efficiency, and expanding its digital presence. The company is also investing in new product development and marketing.
Esprit CEO Anders Kristiansen said the company is making progress on its turnaround plan. He said the company is focused on improving its profitability and becoming a more sustainable business.
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