Esprit Holdings reported a net loss of HK$238 million (€27.9m-$30.7m) for the six months ended in December, as compared to a profit of HK$47 million (€5.5m-$6.1m) a year earlier. The performance of the clothing retailer was affected by a weak euro and a slowdown in China. Sales were down to HK$9.3 billion (€1,089.7m-$1,197.7m) from HK$10.7 billion (€1,252.9m-$1,378.3m). However, turnover in Germany, which is Esprit's largest market, grew by 1.5 percent in local currency. The gross profit margin was flat at 50.5 percent. The retailer went through an ambitious revamp last year that included store closures, price adjustments, new return policies, and distribution and technology upgrades.