SMCP reports organic revenue increase of 9.4 percent

SMCP, parent company of Sadro, Maje, Claudie Pierlot and De Fursac recorded third quarter sales at 308 million euros, up 9.4 percent on an organic basis and 13.5 percent on a reported basis versus 2021.

Over the first nine months, the group recorded 874 million euros of sales, up 17 percent on an organic basis and 20.5 percent on a reported basis.

The company said, Europe and North America continue to benefit from a very good momentum in the third quarter, while APAC is still affected by Covid restrictions in Mainland China but the trend showed a gradual improvement.

The company reported like-for-like point of sales up 19 percent in nine months and digital sales growth of 21 percent.

Commenting on the results, Isabelle Guichot, CEO of SMCP, stated: “The group registered record sales in Q3 based on the solid growth of all brands. This performance reflects a strong momentum in Europe, notably thanks to the success of collections with local clients and the return of tourists, as well as in the United States where demand remains significant, in line with preceding quarters.”

:In view of our performance in the first nine months of the year, and provided that the international situation does not deteriorate further in the final quarter, we confirm our full-year guidance,” Guichot added.

The company added that in France, nine-month sales reached 294 million euros, up 30 percent supported by like-for-like points of sales. The third quarter saw a double-digit growth with a basis of comparison higher than in H1.

In EMEA (Europe excluding France and Middle East), SMCP delivered nine-month sales of 272 million euros, up 38 percent, of which 51 percent like-for-like increase, coming from brick-and-mortar and digital retail. Third quarter sales were up 20 percent.

In APAC, nine-month sales of 176 million euros were down 13 percent on a reported basis and 20 percent on an organic basis versus 2021.

In North America, SMCP sales of 132 million euros, improved 36 percent on a reported basis and 22 percent on an organic basis with LFL progressing 23 percent. The third quarter sales rose 30 percent on a reported basis and 12 percent on an organic basis.