Esprit Holdings Ltd. (0330.HK) reported Thursday a 9.1% drop in revenue for the three months ended Sept. 30 as its wholesale business continued to struggle.

The company said in a statement its unaudited revenue in the first quarter of its financial year ending June 30 was HK$8.51 billion, down from HK$9.37 billion a year earlier.

Revenue from the company's wholesale business dropped 20% to HK$4.16 billion and accounted for 49% of total revenue, down from 55% in the year-earlier period.

The firm's retail business accounted for 51% of total revenue, up from 44% a year earlier. The retail business' revenue rose 4.4% to HK$4.30 billion from HK$4.11 billion.

In terms of revenue contributions by region, Europe's share fell to 81% from 86% a year earlier, while Asia-Pacific's share rose to 16% from 11%. North America and other regions continued to contribute 3%.

The company has said China could eventually replace Europe as its biggest market.

Esprit competes with Hennes & Mauritz AB and Inditex SA in the global apparel retail market.

-By Kate O'Keeffe, Dow Jones Newswires; 852-2802-7002; kathryn.okeeffe@dowjones.com
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