Esprit Holdings – the world's eighth apparel retailer by market value – on Thursday posted a worse-than-expected 19 percent fall in second-half profit amid slower sales growth and a weak euro. A company official said the wholesale market will remain challenging to the end of the current year.

The Europe-focused fashion group said it had earmarked HKD2.2 billion (USD283 million) for capital spending in the new financial year, of which HKD738 million (USD94.95 million) will be invested in opening about 100 new stores and conducting store expansions, as well as HKD406 million (USD52.23 million) for refurbishing existing stores.

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