Esprit Plans Exit of US and Canada

Personally, I do not fully understand the strategy.  However, it appears that Esprit plans to exit the USA market.  Below you will find portion of the details from a CBS news article.
“Clothing company Esprit Holdings Ltd. is looking to return to the popularity it once had with shoppers during the 1980s, with plans for a major overhaul of its business that includes exiting the U.S. and Canada.

The Hong Kong-based retailer also said its earnings for fiscal 2011 dropped 98 percent.

Aside from leaving North America, Esprit announced Thursday that it will shut down 80 unprofitable stores, which includes retail operations in Spain, Denmark and Sweden.”

Read the article Esprit plans overhaul, will exit US and Canada from CBS News from 9/15/11.


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