SMCP SA
PAR:SMCP
SMCP SA
SMCP SA manufactures and designs apparel and accessory products. The company is headquartered in Paris, Ile-De-France and currently employs 6,091 full-time employees. The company went IPO on 2017-10-20. The firm operates through three main brands offering on-trend products: Sandro, which expresses through its collections the essence of cool and chic Parisian spirit and the French effortless elegance; Maje, which includes Bohemian Chic, Solar & Joie de vivre, and Claude Pierlot, which includes Preppy Chic, Romantic Feminity and Free Spirited. Apart from France, the Company is also present in approximately 36 countries, including The United States, Canada, Spain, the United Kingdom, Australia, Russia Portugal, China, Italy, Germany, Switzerland, United Arab Emirates, Mexico, Hong Kong, South Korea, Turkey and Norway, among others.
SMCP SA manufactures and designs apparel and accessory products. The company is headquartered in Paris, Ile-De-France and currently employs 6,091 full-time employees. The company went IPO on 2017-10-20. The firm operates through three main brands offering on-trend products: Sandro, which expresses through its collections the essence of cool and chic Parisian spirit and the French effortless elegance; Maje, which includes Bohemian Chic, Solar & Joie de vivre, and Claude Pierlot, which includes Preppy Chic, Romantic Feminity and Free Spirited. Apart from France, the Company is also present in approximately 36 countries, including The United States, Canada, Spain, the United Kingdom, Australia, Russia Portugal, China, Italy, Germany, Switzerland, United Arab Emirates, Mexico, Hong Kong, South Korea, Turkey and Norway, among others.
Revenue Decline: Half-year sales were EUR 585 million, down 3.6% at constant FX and 5.5% like-for-like, mainly due to weakness in China.
Margin Improvement: Gross margin improved by over 1 point to above 74% thanks to lower discounting and inventory control.
China Headwinds: Greater China sales fell 20% organically, with 30 store closures in H1 and 40 more planned, impacting overall sales.
Net Debt Progress: Net debt dropped to EUR 293 million, EUR 13 million lower than last year, supported by tight inventory and CapEx control.
Brand Strength Outside China: Sandro and Maje performed well in all regions except China; Europe, France, and America showed resilient trends.
Positive Outlook for H2: Management expects more favorable comps from August and early success with fall/winter collections.
Restructuring Costs: EUR 2 million in restructuring charges were recorded in H1, with some ongoing impact in H2.
