86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
Published
Dec 6, 2019
Reading time
2 minutes
Download
Download the article
Print
Text size

Hong Kong and Claudie Pierlot woes mean guidance downgrade for SMCP

Published
Dec 6, 2019

France-based premium retail specialist SMCP may be one of fashion’s regular over-performers, but on Friday it issued a guidance downgrade on the back of the “sharp market deterioration in Hong Kong”.


Claudie Pierlot



The owner of the Sandro, Maje, Claudie Pierlot and De Fursac brands said it has seen a “significant drop in traffic and temporary store closures over the past few weeks. This deterioration is expected to have a strong impact on the group’s EBITDA margin”.

And it added that “to a lesser extent, the weaker than expected performance of Claudie Pierlot, which is much less exposed to fast-growing international markets, will also affect the group’s margin”.

That’s bad news for a company that has shown itself to be one of the most successful names in premium-priced fashion globally. 

But while there are geographical issues and one brand-specific problem, the company still appears to be firing on all cylinders elsewhere. It said that “in all other geographies and brands, the group has been delivering according to plan, including a positive like-for-like sales growth in Q3, as well as in Q4 to date, and a continuously strong performance in Mainland China”.

So what does this all mean for its future results? The company now expects to deliver an adjusted Ebitda margin of between 15.5% and 16% in 2019 and is reconfirming its full-year sales growth target. In the first half, that margin had been 16.1%.

SMCP said it’s also "closely monitoring the evolution of market trends in Hong Kong and taking all appropriate measures to mitigate the impact such as selectively optimising its store network”. And it added that overall, it “remains strongly committed to delivering its strategic roadmap and foresees significant growth potential of its brands both in terms of like-for-like and worldwide expansion”.

It didn’t say what action it’s taking to boost the performance of the Claudie Pierlot label, however.

Copyright © 2024 FashionNetwork.com All rights reserved.