SMCP has announced that its sales reached 286.8 ME in Q1 2024, down 5.8% on the same period a year earlier (-5% in organic terms).

In detail, and on an organic basis, sales were down -2.9% for Sandro, and -3.2% for Maje, while sales of Other Brands fell by 16.4%.

SMCP points to a good performance in America, resilience in Europe (excluding France), and a continued slowdown in consumption in China.

The Group indicates that its store network is being optimized, with 11 net closures in the quarter, mainly in Asia, to reach 1,719 points of sale worldwide.

SMCP indicates that it intends to return to profitable growth and gain market share. The group is targeting an EBIT margin of around 10% in 2026 and around 12% within five years, with an FCF of 50 ME in 2026.

'We also hope to benefit from our latest technological investments (particularly in digital) to gain in efficiency and pursue our disciplined management in the service of profitable growth and a solid financial structure', commented Isabelle Guichot, CEO of SMCP.

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