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.
  • TickerA2H5K5
  • ISINFR0013214145
  • ExchangeEuronext Paris
  • SectorPersonal Goods
  • CountryFrance

Analysts

Anne-Barbara Nicco

SMCP : Questions around the main shareholder’s financial situation

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Anne-Barbara Nicco

SMCP : Questions around the main shareholder’s financial situation

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Geoffroy Michalet

SMCP : Twin negative effect: 1/ profit warning from SMCP + 2/ additional negative signal from shareholder Ruyi about its indebtedness

>Profit warning from SMCP: a negative surprise - On Friday morning, SMCP issued a press release flagging a profit warning for the current year. The company held a conference call at 9 a.m. CET that very morning to provide some explanations. We took part. The new EBITDA guidance has been revised down: between 15.5% and 16.0% vs stability (16.9%) previously. We are now basing our estimates on the lower end of the range, i.e. 15.5% (our previous forecast was for 17....

Geoffroy Michalet

SMCP : Double effet négatif : 1/ Profit warning de SMCP + 2/ signal négatif complémentaire de l'actionnaire Ruyi sur son endettement

>Profit Warning de SMCP : une mauvaise surprise… - SMCP a annoncé par communiqué vendredi matin un profit warning sur l’année en cours. La société a tenu un call pour donner des explications, le matin même à 9h, nous y avons participé. La nouvelle guidance d’EBITDA est ajustée à la baisse entre 15.5% et 16.0% contre une stabilité (16.9%) auparavant. Nous basons désormais nos estimations sur la fourchette basse, 15.5% (alors que nous tablions sur 17.0%)La gui...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 12/09/2019

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Anthony Giret

SMCP - 4Q17 - Results in line with guidance, but still impressive

SMCP has released strong FY17 results, in line with the group’s very positive guidance. This is not surprising given the continued impressive sales numbers published in January for Q4 (+14% yoy) and the FY (+16%, of which LFL +8%). Please see our newsflow published on 30 January 2018 for further information on the sales release.

SMCP : An attractive buy opportunity on the 5.875% 2023 SMCP notes

Publication date 27/10/2017 16:17 - Writing date 27/10/2017 11:17 - - / - November 2017: Q3 2017 results - - - - - - - - - - - - - - - - - - - We are raising our recommendation on the 5.875% 2023 SMCP notes to Buy. We conducted bond yield simulations assuming the bond is purchased at the current price, based on various possible repayment scenarios for the € 200 notes outstanding. We conclude that even the worst-case scenario offers an attractive yield (1.6% over 18 months) for an issuer we regard as having a BB' credit quality in the wake of the IPO. The other scenarios m...

SMCP : Une belle opportunité d’Achat sur SMCP 5.875% 2023

Nous relevons notre recommandation de Neutre à Achat sur SMCP 5.875% 2023. Nous avons réalisé des simulations de rendement de l’obligation pour un achat au prix actuel en fonction des différents scenarios de remboursement possibles pour l’encours de 200 m EUR restant en circulation. Nous concluons que même le worst case offre un rendement attractif (1.6% sur 18 mois) pour un émetteur que nous considérons doté d’une qualité de crédit BB post IPO. Les autres scenarios peuvent même offrir des rendements de 2.6% à 6% (sans compter le best case exceptionnel d’un rachat au make-whole, à 112%, dans l...

Geoffroy Michalet

SMCP : Twin negative effect: 1/ profit warning from SMCP + 2/ additional negative signal from shareholder Ruyi about its indebtedness

>Profit warning from SMCP: a negative surprise - On Friday morning, SMCP issued a press release flagging a profit warning for the current year. The company held a conference call at 9 a.m. CET that very morning to provide some explanations. We took part. The new EBITDA guidance has been revised down: between 15.5% and 16.0% vs stability (16.9%) previously. We are now basing our estimates on the lower end of the range, i.e. 15.5% (our previous forecast was for 17....

Geoffroy Michalet

SMCP : Double effet négatif : 1/ Profit warning de SMCP + 2/ signal négatif complémentaire de l'actionnaire Ruyi sur son endettement

>Profit Warning de SMCP : une mauvaise surprise… - SMCP a annoncé par communiqué vendredi matin un profit warning sur l’année en cours. La société a tenu un call pour donner des explications, le matin même à 9h, nous y avons participé. La nouvelle guidance d’EBITDA est ajustée à la baisse entre 15.5% et 16.0% contre une stabilité (16.9%) auparavant. Nous basons désormais nos estimations sur la fourchette basse, 15.5% (alors que nous tablions sur 17.0%)La gui...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 12/09/2019

...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Geoffroy Michalet
  • Nicolas David
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 09/12/2019

...

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior