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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.