Seeking Alpha: Esprit Holdings Already Priced For A Very Uncertain Recovery

Readers with a little gray at the temples may fondly remember back to a time when Esprit was a popular, or at least relevant, apparel brand in the U.S. A lot has changed since then, and Esprit Holdings (NASDAQ: ESPGY.PK) is now a global wholesale and retail apparel brand with a major presence in Europe and the hope of riding China's middle class to another era of growth. Unfortunately, Esprit has been in a five-year tailspin that has seen serious revenue, margin, and cash flow erosion, as well as the rise of numerous very competitive global retailing concepts. While there is a major discrepancy between the sell-side and buy-side of the Street regarding Esprit's future prospects, it's difficult to make the case that there's enough value here to speculate on a recovery.

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Esprit Holdings Already Priced For A Very Uncertain Recovery

Seeking Alpha: Incredible Growth Makes ASOS A Must-Watch Name

Online retailing has led to massive changes in business like book publishing/retailing, consumer electronics, music, and media. Heretofore, though, its impact on apparel retailing has been less profound, in part because of the customer service issues of dealing in products where fit, feel, style, and so on complicate the delivery model. Britain's ASOS (ASOMY.PK) is looking to change this with a disruptive customer-centric model that could ring major growth in the years to come.

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Incredible Growth Makes ASOS A Must-Watch Name

Seeking Alpha: Living In The Fast (Retailing) Lane Comes At A Price

Apparel retailing can be a surprisingly cyclical business, and not just because of economic cycles. Plenty of U.S. apparel companies, ranging from Gap (GPS) to American Eagle (AEO) to Abercrombie & Fitch (ANF) have enjoyed periods where they could do no wrong with merchandising or marketing, only to see the crowds leave without warning and take their sales with them. What's more, as a store's footprint grows, it becomes increasingly difficult to maintain an impressive or satisfying level of growth.

One solution that apparel companies have found is to go global. Gap and Abercrombie & Fitch have taken their shows on the road (with not a lot of success thus far), as have European retailers like H&M (HNNMY.PK) and Inditex (IDEXY.PK). Looking to the other side of the globe, Japan's Fast Retailing (FRCOY.PK) looks like a name to watch as the company looks to maintain double-digit growth through expansion in Europe, the U.S., and Asia with its proven strategy of savvy marketing, competitive pricing, and high-quality unique merchandise.

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Living In The Fast (Retailing) Lane Comes At A Price