(CercleFinance.com) – SMCP announces that its sales reached €286.8 million in the first quarter of 2024, a figure down 5.8% compared to the same period a year earlier (-5% organically).
In detail, and in organic variation, sales fell by -2.9% for Sandro, and -3.2% for Maje, while Other brands saw their sales fall by 16.4%.
SMCP notes the good performance in America, the resilience in Europe (excluding France) and still slow consumption in China.
The group indicates that its store network is being optimized with 11 net closures during the quarter, mainly in Asia to reach 1,719 points of sale worldwide.
SMCP indicates that it wants 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 take advantage of our latest technological investments (particularly in digital) to gain efficiency and continue our disciplined management in the service of profitable growth and a solid financial structure,’ commented Isabelle Guichot, Managing Director of SMCP .
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