French premium fashion group SMCP has achieved strong sales growth in the fourth quarter and full year of 2019, despite facing market challenges. The company recorded an impressive 8.7% increase in sales at constant currency and on a comparable basis, reaching €1.131bn ($1.25bn). Although like-for-like sales dropped by a marginal 0.1% for the year, all regions demonstrated positive performance in the fourth quarter.
France, in particular, saw a remarkable surge in sales during Q4, with a 14.8% increase to €317m. SMCP credited this success to its expansion of stores and growth in e-commerce, which accounted for 14.9% of total revenue. The company remains confident in its full-year guidance for an adjusted Ebitda margin between 15.5% and 16%.
CEO Daniel Lalonde emphasized SMCP’s focus on key growth areas for the future, including China, accessories sales, the omnichannel customer experience, and sustainability initiatives. The company plans to introduce new initiatives in April to further drive like-for-like sales growth.