Presse release

2020 Q3 sales Sequential improvement driven by Mainland China

  • Q3 sales down -9.5% as reported; -10.6% on an organic (1) basis
  • Mainland China sales back to double-digit like-for-like sales growth in Q3 (+29.6% on an organic basis)
  • Strong performance in e-commerce, driven by all regions (+27.6% of digital sales growth(2))
  • Selective expansion: +6 net openings of DOS in Q3 2020, o/w 4 net closures in France

 

Commenting on the report, Daniel Lalonde, SMCP’s CEO, stated:

“Our third quarter performance is very encouraging. I am particularly satisfied with our figures in Mainland China, which is undoubtedly a key driver of our future growth. However, as visibility remains limited due to the intensification of the Covid-19 pandemic worldwide, we remain cautious about the coming quarters. Nevertheless, I remain confident in the strength of our fundamentals and our ability to get through this crisis. I look forward to presenting to you our new strategy tomorrow which will enable us to meet future challenges and take advantage of the trends we observe around the world.”

 

(1) All references in this document to the organic sales performance refer to the performance of the Group at constant currency and scope, i.e. excluding the acquisition of De Fursac
(2) Excluding De Fursac