Slumping sales, store closures hit Australian Esprit

Slumping sales and store closures led to a small loss for the Australian arm of international fashion retailer Esprit, as its parent company’s shares come under attack from short sellers.

Esprit bills itself as the largest international fashion retailer in Australia and New Zealand, and has operated in Australia for more than 30 years.

It employs nearly 400 people and has dozens of stores throughout Australia as well as selling through department store Myer. But in recent years, Australia has become increasingly popular for international fashion retailers, with global giants Uniqlo, Zara, H&M and Topshop setting up more than a dozen stores in the past few years.