Headwinds in China force SMCP to reduce annual forecasts

Featured image of the article Headwinds in China force SMCP to reduce annual forecasts
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22 September 2023 à 15h29

Updated on 25 September 2023 à 12h40

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1 minute

Publication: 22 September 2023 à 15h29, Updated on 25 September 2023 à 12h40

Reading time: 1 minute

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Publication

22 September 2023 à 15h29

Updated on 25 September 2023 à 12h40

Reading time

1 minute

Publication: 22 September 2023 à 15h29, Updated on 25 September 2023 à 12h40

Reading time: 1 minute

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On 18th September, the SMCP group (Maje, Sandro, Claudie Pierlot, Fursac) announced an adjustment of annual growth targets due to disappointing sales. While an operating margin in excess of 9.2% was initially expected for 2023, the target has been revised downwards to around 8%, with sales growth of around 5%. In 2022, the parent company’s revenues had reached €1.2 billion (up 16.1% year-on-year), with an operating margin at 9.2% of sales.

In a press release, SMCP deplored the fact that...

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