SMCP, the premium fashion group based in France, has posted a full-year loss in 2020 – all thanks to COVID-19-induced store closures and lockdowns.
The Group posted a net loss of €102.2 million for 2020, compared to a profit of €43.7 million back in 2019.
The loss, however, came down to €39.6 million following exclusion of Goodwill and right of use impairments.
The year also saw SMCP’s adjusted EBITDA fall by 37.3 per cent to €179.6 million.
Talking of SMCP’s brands, Maje posted EBITDA of €75.2 million – a drop from €119.9 million in the previous year.
Sandro, on the other hand, posted EBITDA of €91.8 million – a fall from €141 million a year before.
SMCP, which owns brands like Sandro, Maje, Claudie Pierlot and De Fursac, saw its 2020 sales decline by 22.9 per cent on a reported basis to €873 million.
The Group was, however, delighted over its robust performance in mainland China, where yearly sales went up by 3.4 per cent.
Meanwhile, SMCP hasn’t provided any guidance for full-year 2021 owing to the uncertainty surrounding the pandemic scenario.
