The French clothing group SMCP achieved new record sales in the third quarter of the 2022 financial year despite the problems caused by the pandemic in China. The losses there were more than made up for by high growth in the other important markets, the parent company of the brands Sandro, Maje, Claudie Pierlot and De Fursac explained in an interim report published on Wednesday.
In the period from July to September, SMCP’s turnover amounted to 308.4 million euros. The level of the same quarter of the previous year was thus exceeded by 13.5 percent. On an organic basis – i.e. adjusted for currency effects and discontinued operations – revenues grew by 9.4 percent.
In France, sales increased by 11.9 percent (organic +13.5 percent) to 99.1 million euros, in the EMEA region, which includes the rest of Europe, the Middle East and Africa, by 21.4 percent (organic + 20.4 percent) to 98.6 million euros. In America, too, there was a strong upward trend. Revenues there increased by 29.9 percent (+12.5 percent organically) to EUR 49.0 million.
In the Asia-Pacific region, on the other hand, the group had to accept a decline in sales of 4.1 percent (organically -11.8 percent) to 61.6 million euros. In China, business continued to be affected by temporary store closures due to tightened Covid 19 protective measures, the company said. In contrast, other key markets in the region – particularly South Korea, Singapore, Malaysia and Australia – reported “strong results”.
In the first nine months of the current year, SMCP recorded sales of EUR 873.8 million. This corresponded to an increase of 20.5 percent (organically +17.0 percent) compared to the same period of the previous year.