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Reuters
Published
May 5, 2010
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Esprit falls to 3-month low on Europe debt concern

By
Reuters
Published
May 5, 2010

(Reuters) - Shares of Europe-focused fashion retailer Esprit Holdings (0330.HK) fell 5.6 percent to a more than three-month low on growing concern about the spread of Europe's debt crisis to other weak eurozone countries.

Li & Fung, Esprit
Esprit

The shares fell to HK$51.50, the lowest since January 26, compared with a 2.14 percent drop in broader Hang Seng Index .HSI.

Esprit, which competes with Swedish clothing retailer Hennes & Mauritz (HMb.ST), U.S. group GAP (GPS.N) and Spain's Inditex (ITX.MC), said total sales in the nine months ended March eased 1.8 percent from a year earlier, despite an improving global economy.

Sales in Europe accounted for 84 percent of Esprit's total turnover during the nine-month period.

(Reporting by Donny Kwok)

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