Clothing chain Esprit has given a novel excuse for poor financial performance.  The chain says that “it lost its soul.”  In other words, it expanded too fast and started to neglect customers.  Now it is retrenching and trying to become trendy again.  Good luck.  It is hard for a clothing retailer to recover its customers once they have departed.  There are too many competitors and new ones constantly.  At least Esprit understands what happened to it.  It concentrated on short-term growth rather than long-term gain.  However, knowing what happened and doing something about it are different.  The company has a long road back, and its positioning may not be clear in getting there.

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