Esprit reported a 7.8 percent decline in group turnover for the three months ended on March 31, but comparable store sales improved by 0.5 percent, with growth of 2.8 percent in Europe, signaling a turnaround. A further positive factor was the complete shutdown of its loss-making retail operations in North America. For the first nine months of the company's financial year through March, group sales were down by 7.2 percent to 23.99 billion Hong Kong dollars (€2.4bn-$3.1bn), with decreases in local currencies of 9.5 percent in Europe, 8.6 percent in Asia-Pacific and 6.4 percent in North America. Total retail sales were down by 4.5 percent on a currency-neutral basis, and wholesale revenues were off by 15.5 percent.