2020 third quarter
Press release -
2020 Q3 sales
Sequential improvement driven by Mainland China
- Q3 sales down -9.5% as reported; -10.6% on an organic1 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 growth2)
- Selective expansion: +6 net openings of DOS in Q3 2020, o/w 4 net closures in
France
Commenting on the report,
€m except % Unaudited figures | Q3 2019 | Q3 2020 | Organic sales change | Reported sales change | 9M 2019 | 9M 2020 | Organic sales change | Reported sales change |
Sales by region | ||||||||
91.8 | 89.5 | -8.3% | -2.6% | 275.4 | 222.5 | -25.4% | -19.2% | |
EMEA3 | 87.5 | 69.8 | -20.6% | -20.1% | 246.3 | 176.5 | -28.9% | -28.3% |
36.0 | 23.4 | -32.2% | -35.1% | 104.8 | 61.6 | -41.0% | -41.2% | |
APAC4 | 59.2 | 65.7 | 13.8% | 10.9% | 188.5 | 160.6 | -13.8% | -14.8% |
Sales by Brand | ||||||||
Sandro | 133.4 | 116.2 | -11.8% | -12.9% | 395.8 | 293.3 | -25.7% | -25.9% |
108.3 | 98.8 | -7.7% | -8.8% | 320.6 | 238.3 | -25.5% | -25.7% | |
Other brands5 | 32.9 | 33.4 | -15.4% | 1.5% | 98.5 | 89.6 | -27.1% | -8.9% |
TOTAL | 274.5 | 248.4 | -10.6% | -9.5% | 814.9 | 621.2 | -25.8% | -23.8% |
In the third quarter of 2020, consolidated sales reached €248.4 million, down -10.6% on an organic basis. Reported sales were down -9.5%, including a negative currency impact of -1.0% (mostly in
Over the last twelve months,
Sales breakdown by region and by brand
In
In
In the
In APAC, sales were up +13.8% on an organic basis, showing a consistent improvement throughout the quarter. This performance was mainly driven by mainland
A webcast to investors and analysts will be held tomorrow by
Related slides will be available on the website (www.smcp.com), in the Finance section.
FINANCIAL CALENDAR
·Oct 27, 2020 – Strategic update
APPENDICES
Breakdown of DOS
Number of DOS | Q3-19 (incl. DF) | 2019 (incl. DF) | H1-20 (incl. DF) | Q3-20 (incl. DF) | Var Q3 20 vs. Q2 20 (incl. DF) | Var Q3 20 vs. FY 19 (incl. DF) | Var Q3 20 vs. Q3 19 (incl. DF) | |
By region | ||||||||
530 | 528 | 524 | 520 | -4 | -8 | -10 | ||
EMEA | 397 | 413 | 415 | 414 | -1 | +1 | +17 | |
156 | 162 | 164 | 167 | +3 | +5 | +11 | ||
APAC | 209 | 219 | 221 | 229 | +8 | +10 | +20 | |
By brand | ||||||||
Sandro | 536 | 550 | 555 | 559 | +4 | +9 | +23 | |
435 | 444 | 448 | 451 | +3 | +7 | +16 | ||
220 | 224 | 223 | 219 | -4 | -5 | -1 | ||
Suite 341 | 44 | 44 | 38 | 38 | - | -6 | -6 | |
De Fursac | 57 | 60 | 60 | 63 | +3 | +3 | +6 | |
Total DOS | 1 292 | 1 322 | 1 324 | 1 330 | +6 | +8 | +38 |
Breakdown of POS
Number of POS | Q3-19 (incl. DF) | 2019 (incl. DF) | H1-20 (incl. DF) | Q3-20 (incl. DF) | Var Q3 20 vs. Q2 20 (incl. DF) | Var Q3 20 vs. FY 19 (incl. DF) | Var Q3 20 vs. Q3 19 (incl. DF) | |
By region | ||||||||
532 | 530 | 524 | 520 | -4 | -10 | -12 | ||
EMEA | 518 | 535 | 534 | 531 | -3 | -4 | +13 | |
182 | 189 | 193 | 187 | -6 | -2 | +5 | ||
APAC | 374 | 386 | 399 | 406 | +7 | +20 | +32 | |
By brand | ||||||||
Sandro | 690 | 707 | 716 | 714 | -2 | +7 | +24 | |
567 | 577 | 587 | 584 | -3 | +7 | +17 | ||
246 | 250 | 249 | 245 | -4 | -5 | -1 | ||
Suite 341 | 44 | 44 | 38 | 38 | - | -6 | -6 | |
De Fursac | 59 | 62 | 60 | 63 | +3 | +1 | +4 | |
Total POS | 1 606 | 1 640 | 1 650 | 1 644 | -6 | +4 | +38 | |
o/w Partners POS | 314 | 318 | 326 | 314 | -12 | -4 | - |
FINANCIAL INDICATORS NOT DEFINED IN IFRS
The Group uses certain key financial and non-financial measures to analyse the performance of its business. The principal performance indicators used include the number of its points of sale, like-for-like sales growth, Adjusted EBIT and Adjusted EBIT margin.
Number of points of sale
The number of the Group’s points of sale comprises total retail points of sale open at the relevant date, which includes (i) directly-operated stores, including free-standing stores, concessions in department stores, affiliate-operated stores, factory outlets and online stores, and (ii) partnered retail points of sale.
Like-for-like sales growth
Like-for-like sales growth corresponds to retail sales from directly operated points of sale on a like-for-like basis in a given period compared with the same period in the previous year, expressed as a percentage change between the two periods. Like-for-like points of sale for a given period include all of the Group’s points of sale that were open at the beginning of the previous period and exclude points of sale closed during the period, including points of sale closed for renovation for more than one month, as well as points of sale that changed their activity (for example, Sandro points of sale changing from Sandro Femme to
Like-for-like sales growth percentage is presented at constant exchange rates (sales for year N and year N-1 in foreign currencies are converted at the average N-1 rate, as presented in the annexes to the Group's consolidated financial statements as of
Organic sales growth
Organic sales growth corresponds to total sales in a given period compared with the same period in the previous year, expressed as a percentage change between the two periods, and presented at constant exchange rates (sales for period N and period N-1 in foreign currencies are converted at the average year N-1 rate) excluding scope effects, i.e. excluding the acquisition of De Fursac
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METHODOLOGY NOTE
Unless otherwise indicated, amounts are expressed in millions of euros and rounded to the nearest million. In general, figures presented in this press release are rounded to the nearest full unit. As a result, the sum of rounded amounts may show non-material differences with the total as reported. Note that ratios and differences are calculated based on underlying amounts and not on the basis of rounded amounts.
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DISCLAIMER: FORWARD-LOOKING STATEMENTS
Certain information contained in this document includes projections and forecasts. These projections and forecasts are based on
This document has not been independently verified.
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ABOUT
CONTACTS
INVESTORS/PRESS PRESS
Célia d’Everlange Hugues Boëton
+33 (0) 1 55 80 51 00 +33 (0) 1 53 96 83 83
celia.deverlange@smcp.com smcp@brunswickgroup.com
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
3 EMEA covers the Group's activities in European countries excluding
4 APAC includes the Group's
5
6 Excluding De Fursac
7 With new accounting method on returns
Attachment
- Press Release -
SMCP - 2020 Q3 Sales
© OMX, source