France's SMCP 2025 sales slightly miss estimates

Smcp SA

26/02/2026 16:49

Overview

France-based luxury retailer's 2025 sales slightly missed analyst expectations

Adjusted EBIT for 2025 rose 80% to €95m, reflecting cost optimization

Company generated record free cash flow of €91m, highlighting financial discipline

Outlook

SMCP targets 10% adjusted EBIT margin in H2 2026

Company expects €50 mln free cash-flow in 2026

Result Drivers

REGIONAL PERFORMANCE - EMEA and America regions saw strong growth, offsetting challenges in Asia due to network optimization

FULL-PRICE STRATEGY - Strict full-price strategy reduced in-season discount rate, supporting sales quality and profitability

NETWORK OPTIMIZATION - Reduction in points of sale due to network optimization, particularly in China and Europe

Company press release: ID:nGNEgWhQx

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Sales
Slight Miss*
EUR 1.22 bln
EUR 1.23 bln (5 Analysts)
FY Net Income
EUR 16.6 mln
FY Adjusted EBITDA
EUR 231.3 mln
FY Adjusted EBIT
EUR 95.2 mln
FY Free Cash Flow
EUR 91.1 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the apparel & accessories retailers peer group is "buy"

Wall Street's median 12-month price target for SMCP SA is €8.00, about 26% above its February 25 closing price of €6.35

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)