SMCP cuts Q4 outlook

For the fourth quarter of 2023, SMCP expects a performance slightly below previous outlook. sales are expected to reach around 1.230 million euros, up 3.8 percent at constant FX compared to earlier outlook of mid-single digit growth.

The company expects adjusted EBIT margin between 6.4 percent and 6.6 percent of sales against between 7 percent to 9 percent of sales previously.

The company said in a statement that fourth quarter sales remained stable compared to 2022 at constant exchange rates, despite a macro-economic context that continued to deteriorate: heightened geopolitical tensions, weak household consumption and persistent inflation.

The parent company of Sandro, Maje, Claudie Pierlot and Fursac added that good resilience of the group in the United States offset a difficult month of December in Europe, particularly in France and a less dynamic month than expected in China.