SMCP SA (SMCP.PA), an apparel and accessories retail company in France, Tuesday reported a decline in the first quarter sales as strong growth in America and EMEA was offset by weakness in France.
For the first quarter, sales declined 3.2 percent to 287.2 million euros from 296.6 million euros last year.
On like-for-like basis, sales grew in all regions outside France, limiting the Group's decline to 0.9 percent.
By region, EMEA sales grew 4.7 percent to 102.6 million euros from 98.0 million euros a year earlier, on resilient trends in Southern Europe and Germany with good momentum, particularly in Turkey and the Balkans. Middle East revenue was not impacted so far, though the group remains vigilant on tourism risks.
America sales rose 1.3 percent to 44.4 million euros from 43.9 million euros in the prior year, driven by Sandro and Maje momentum in the U.S. and Canada across retail and digital.
However, in France, revenue declined 13 percent to 88.8 million euros from 102.1 million euros last year, reflected a weak consumer backdrop, closure of 25 BHV-SGM corners in November 2025, Sandro flagships renovations in Paris and weaker January sales.
Asia Pacific sales dropped 2.6 percent to 51.3 million euros from 52.7 million euros last year, with China returning to like-for-like sales growth on better retail execution and full-price rollout. Rest of Asia was resilient, led by Malaysia, Thailand and Vietnam, while South Korea recorded 24 net closures tied to a new partner takeover.
Looking ahead to fiscal 2026, SMCP confirmed its 2026 targets of an adjusted EBIT margin of around 10 percent in the second half and free cash flow generation of 50 million euros for the year.
On the Paris Stock Exchange, shares of SMCP were losing 1.44 percent trading at 5.46 euros.
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