July 25, 2019 / 6:28 AM / 2 months ago

French fashion group SMCP confirms financial targets as second-quarter sales rise

FILE PHOTO: The logo of ready-to-wear Maje brand is seen on a fashion shop storefront in Paris, France, March 29, 2017. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - French fashion company SMCP (SMCP.PA), whose brands include Sandro and Maje, posted higher sales and confirmed its full-year target for an increase in revenues and stable profit margins.

SMCP, which is majority-owned by Chinese retail group Shandong Ruyi (002193.SZ), said its second-quarter sales rose 10% to 265.7 million euros ($295.86 million).

SMCP stuck to its 2019 financial targets of sales growth of between 9%-11% at constant currency exchange rates, and a stable adjusted core earnings margin compared to 2018, excluding its recent acquisition of the De Fursac brand.

Reporting by Sudip Kar-Gupta; Editing by Inti Landauro

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