SMCP : Feedback from the conference call: Reasons to remain optimistic despite the uncertainty. Rating and target price of € 7.0 unchanged
>A quarter that was a shade better than expected, robust growth for online sales, a number of store closures in France - The performance over the quarter was not only driven by China (growth in mainland China: +92.6% vs Q1 2020 and +26% vs Q1 2019) but also by the growth in online sales at +38.9% (+43% in Q4 and +28% for FY 2020). At the current time, around 45% of SMCP stores are closed worldwide with all stores closed in France, half of the stores open in Europe, pa...SMCP is engaged in the apparel and accessories retail market. Co.'s products are sold through a network of points of sale and websites. Co.'s product range is composed of on-trend and quality womenswear, menswear and accessories. Co.'s three brands can be characterized as follows: Sandro, targeted at sophisticated and self-confident women with a sleek, cool sense of style and a Parisian nonchalance; Maje, a bohemian chic positioning, targeting a feminine and young-at-heart and joie de vivre clientele and Claudie Pierlot, characterized as Parisian-preppy, wise and with a rebel touch. Claudie Pierlot is focused on a timeless, effortless style.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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