In the second quarter of 2018, consolidated sales at SMCP, the parent company of Sandro, Maje and Claudie Pierlot reached 241.3 million euros (281.7 million dollars), up 15.2 percent at constant currency. The company said, reported sales rose 12.9 percent, including a negative currency impact of 2.3 percent, like-for-like sales, however, grew 5.8 percent. For the year 2018, SMCP, upgrading its guidance said that it expects sales growth in the range of 11 percent to 13 percent at constant currency to above 13 percent at constant currency. The Group has also confirmed its adjusted EBITDA margin guidance at around 17 percent.
Commenting on the report, Daniel Lalonde, SMCP’s Chief Executive Officer, said in a statement: “This semester further highlights the relevance of our business model and the global desirability of our brands and products, as we recorded double-digit growth across all brands and international regions. These very good results lead us to upgrade our sales growth guidance for 2018 to above 13 percent at constant currency.”
SMCP posts positive sales growth across core markets
In France, SMCP Group said that it showed another resilient quarter with a stable sales growth at -0.7 percent. In EMEA, SMCP’s sales were up 15.1 percent at constant currency. In the Americas, the Group reported sales growth of 27.1 percent at constant currency. In APAC, the Group registered a growth of 47.7 percent at constant currency. This performance, the company said, reflects the success of e-commerce initiatives and in-store activations which contributed to further increasing the awareness and desirability of the three brands, as well as a store expansion with three new cities in Mainland China over the quarter (Changchun, Zhengzhou, and Changsha). Growth was sustained both in Mainland China and Hong Kong.
By brands, Sandro registered a strong performance at 14.7 percent at constant currency, which opened 33 directly operated stores including key locations like Stockholm (Sweden), Miami (United States), Zhengzhou (China) and Dubai (United Arab Emirates).
Maje sales rose 16.6 percent at constant currency. Over the last twelve months, Maje opened 33 directly operated stores including SMCP’s 100th physical store in Mainland China (Beijing) as well as openings of key locations in Munich (Germany), Monaco (France), Miami (United States) and Changsha (China). Finally, Claudie Pierlot posted a 13 percent increase at constant currency in the second quarter. Over the last twelve months, the brand opened 23 directly operated stores, with a key inauguration on Times Square in Hong-Kong and other openings in Europe such as Zurich and Utrecht.