SMCP says COVID-19 outbreak expected to impact Q1 sales

Consolidated sales at SMCP, parent company of Sandro, Maje and Claudie Pierlot, reached 1,131.9 million euros (1,223 million dollars), up 8.7 percent at constant currency, mainly driven by an international sales growth of 14.2 percent with mainland China registering more than 30 percent rise at constant currency. The company said in a statement that this performance reflected a stable, negative 0.1 percent like-for-like sales growth, with acceleration of 0.8 percent in H2 2019, as well as a continued expansion of the stores network. Overall, reported sales were up 11.3 percent, including a positive currency impact of 1.3 percent and De Fursac’s contribution of 1.2 percent since September 2019. The company has warned of negative impact of COVID-19 outbreak on its first quarter sales due to low footfall and store closures.