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SMCP Confirms Financial Targets As Q2 Sales Rise

The fashion company reported rising second-quarter sales, with growth between 9 to 11 percent.
A Sandro store | Source: Shutterstock
By
  • Reuters

PARIS, France — French fashion company SMCP, whose brands include Sandro and Maje, posted higher sales and confirmed its full-year target for an increase in revenues and stable profit margins.

SMCP, which is majority-owned by Chinese retail group Shandong Ruyi, said its second-quarter sales rose 10 percent to 265.7 million euros ($295.86 million).

SMCP stuck to its 2019 financial targets of sales growth of between 9-11 percent at constant currency exchange rates, and a stable adjusted core earnings margin compared to 2018, excluding its recent acquisition of the De Fursac brand.

By Sudip Kar-Gupta; editor: Inti Landauro.

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