SMCP's Q3 2024 Sales: A Resilient Performance Amidst Global Challenges
Tuesday, Oct 29, 2024 2:31 am ET
1min read SMCP, a leading global fashion group, has released its Q3 2024 sales figures, showcasing a resilient performance despite challenging market conditions. The company's commitment to a strict full-price strategy and network optimization has contributed to its steady growth in key regions.
SMCP's sales in Q3 2024 reached €293 million, a slight decrease of -0.9% on an organic basis compared to the same period in 2023. However, excluding China, sales grew by +3.1% on an organic basis, demonstrating the group's resilience in the face of a deteriorated environment in the Chinese market. The company's sales growth was driven by strong performances in Europe and America, with a good resilience of sales in these regions.
In Europe, SMCP's sales grew by +5.4% in Q3 2024 compared to the same period in 2023, benefiting from a strict full-price strategy and consistent growth in both the North and South of Europe. The company's strict discount rate policy contributed to a positive like-for-like performance in the largest retail markets. In America, SMCP's sales increased by +6.6% in Q3 2024, supported by steady sales growth despite a challenging environment. The company's strong performance in the US and Mexico contributed to this growth.
SMCP's commitment to a mid-term action plan of savings and network optimization has been instrumental in driving its growth. The company pursued a store network optimization plan, with 35 net closings in the quarter, notably in Asia and for Claudie Pierlot in Europe. This strategy has helped SMCP reach 1,666 POS, contributing to its overall profitability and cash flow.
SMCP's full-price strategy has also played a crucial role in maintaining the group's market share and competitive position. By maintaining a strict discount rate policy, SMCP has been able to preserve its brand image and customer loyalty. The company's focus on high-quality products and a consistent pricing strategy has enabled it to differentiate itself from competitors and maintain a strong position in the market.
In conclusion, SMCP's Q3 2024 sales performance demonstrates the company's resilience and adaptability in the face of global challenges. The company's commitment to a strict full-price strategy, network optimization, and a mid-term action plan of savings has contributed to its steady growth in key regions. SMCP's focus on high-quality products and a consistent pricing strategy has enabled it to maintain its market share and competitive position, ensuring the company's long-term success.
SMCP's sales in Q3 2024 reached €293 million, a slight decrease of -0.9% on an organic basis compared to the same period in 2023. However, excluding China, sales grew by +3.1% on an organic basis, demonstrating the group's resilience in the face of a deteriorated environment in the Chinese market. The company's sales growth was driven by strong performances in Europe and America, with a good resilience of sales in these regions.
In Europe, SMCP's sales grew by +5.4% in Q3 2024 compared to the same period in 2023, benefiting from a strict full-price strategy and consistent growth in both the North and South of Europe. The company's strict discount rate policy contributed to a positive like-for-like performance in the largest retail markets. In America, SMCP's sales increased by +6.6% in Q3 2024, supported by steady sales growth despite a challenging environment. The company's strong performance in the US and Mexico contributed to this growth.
SMCP's commitment to a mid-term action plan of savings and network optimization has been instrumental in driving its growth. The company pursued a store network optimization plan, with 35 net closings in the quarter, notably in Asia and for Claudie Pierlot in Europe. This strategy has helped SMCP reach 1,666 POS, contributing to its overall profitability and cash flow.
SMCP's full-price strategy has also played a crucial role in maintaining the group's market share and competitive position. By maintaining a strict discount rate policy, SMCP has been able to preserve its brand image and customer loyalty. The company's focus on high-quality products and a consistent pricing strategy has enabled it to differentiate itself from competitors and maintain a strong position in the market.
In conclusion, SMCP's Q3 2024 sales performance demonstrates the company's resilience and adaptability in the face of global challenges. The company's commitment to a strict full-price strategy, network optimization, and a mid-term action plan of savings has contributed to its steady growth in key regions. SMCP's focus on high-quality products and a consistent pricing strategy has enabled it to maintain its market share and competitive position, ensuring the company's long-term success.
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