Skip to main content

SMCP Says Coronavirus Is Significantly Weighing on Results

PARIS — As the coronavirus continues to wreak havoc across the world, SMCP, the group that owns Sandro, Maje and Claudie Pierlot, said the outbreak is significantly impacting sales and profitability in China—a key market for its contemporary French fashion labels—and weighing on other regions as well, due to the decline in Chinese tourists. Since late January, SMCP has temporarily closed a large proportion of its stores in Mainland China and Macau, with limited opening hours for boutiques that are open. “While we cannot predict the duration of the crisis, we have been taking appropriate measures to mitigate the impact on our business,” said Daniel Lalonde, chief executive officer of the Paris-based company. The group also postponed its investor day, initially scheduled for April 2, to Sept. 30. SMCP said it had performed strongly in the first three weeks of January in Mainland China. Executives issued a profit warning in December, lowering their annual earnings margin target, citing lower foot traffic and store closures in Hong Kong. The French group has been rapidly expanding its store network abroad, particularly in Asia and the Americas, while downsizing its network in France. Listed on the Paris stock exchange in 2017, SMCP is controlled by Chinese textile conglomerate

Follow WWD on Twitter or become a fan on Facebook.



from WWDWWD https://ift.tt/2w1calW

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Michael Urie Is in His Dreamy Era

“It’s been a dreamy couple of years,” says Michael Urie on a Friday afternoon phone call, just hours before a performance of his latest Broadway show “Once Upon a Mattress” at the Hudson Theatre. These dreamy years have also been busy ones for the star, who rose to fame for his role as Marc St. James on the sitcom “Ugly Betty.” Now, Urie stars in the hit Apple TV dramedy “Shrinking” alongside Harrison Ford and Jason Segel — season two premieres Oct. 16. He has also taken the stage by storm over the past couple of years, starring in Broadway’s revival of “Spamalot” and now the revival of “Once Upon a Mattress,” which also had a stint at New York City Center in the winter. While both shows feature Urie in showstopping musical numbers, he never considered himself to be “very musical.”  Michael Urie in “Once Upon a Mattress.” “Doing a musical at all, it’s still a pinch me thing,” he says. “I fell in love with theater because of musicals…[but singing] didn’t come naturally to me.” ...
Post a Comment
Read more

Prince Harry Returns to London With His Signature Style for the Invictus Games Foundation 10th Anniversary

Prince Harry returned to London on Tuesday and Wednesday for events celebrating the 10th anniversary of The Invictus Games Foundation. The Duke of Sussex is the patron of the Invictus Games, a multisport event for wounded, injured and ill servicemen and women launched in March 2014. On Tuesday, Prince Harry was joined by journalist Louise Minchin, entrepreneur Sir Keith Mills and more for a panel conversation titled “Realizing a Global Community.” For the occasion, the British royal family member kept his business attire approachable, opting for a gray suit and white button-down shirt with the top few buttons undone. Louise Minchin and Prince Harry The Duke of Sussex’s conversation with panelists highlighted the global impact the Invictus Games have had since their inception 10 years ago. Prince Harry was also on hand for another event on Wednesday. Prince Harry The Duke of Sussex attended The Invictus Games Foundation 10th Anniversary Service at St. Paul’s Cathedral on Wednesday, ...
Post a Comment
Read more

Louise Redknapp wows fans with seductive lingerie snap

Louise Redknapp has wowed fans on social media. Credit: Getty The singer and songwriter has left fans gobsmacked with a gorgeous new snap that she posted to her social media. Taking to her Instagram account, Louise shared a striking photo with her nearly 700,000 followers that shows her modelling a set of barely there lingerie. Wearing a nudey peach lacy bra with a see-through mesh pair of matching briefs, the former Eternal singer lay on a hotel-style bed giving a sultry look to the camera. View this post on Instagram Saturday night out… just kidding I’m in my PJs 🤍 A post shared by Louise Redknapp (@louiseredknapp) on Nov 9, 2019 at 11:42am PST With muted smokey eye makeup and a subtle glow on her cheeks, the mum-of-two cut a seductive figure with her sultry getup. Joking in her caption that she was enjoying a night out earlier on in the weekend, the mum-of-two, who used to be married to former England footballer Jamie Redkn...
Post a Comment
Read more