Shares of SMCP, the parent company of Sandro, Maje, Claudie Pierlot, and Fursac brands, have witnessed a rise of 7.7% despite trading below pre-profit warning levels. The boost is attributed to expected gains from the implementation of its action plan in Q4 of 2023.
CEO Isabelle Guichot reaffirmed the downgraded guidance for 2023 while expressing confidence in the firm's full-price strategy along with inventory and liquidity controls. This comes following a year-on-year sales decrease of 4.4% in Q3, which amounted to 294.9 million euros ($311.6 million).
The decline included a 2% organic decrease due to a slowdown in consumption across Europe, America, and China. In contrast, an upward trend has been observed in other Asian markets, suggesting potential areas for growth for SMCP.
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