Esprit prepares to close all its stores in North America

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Source: Bloomberg
Clothing retailer Esprit Holdings plans to close all its North American stores as the company failed to sell the unprofitable unit. Esprit is attempting to cut costs and recover from 98% earnings drop last year. Representatives of company admitted, Esprit did not manage to get and maintain the market share in North America. Following the announcement Esprit shares lost 1.4%. 
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