×
69 095
Fashion Jobs
NORDSTROM
Asset Protection Agent - San Tan Village Rack
Permanent · Gilbert
NORDSTROM
Asset Protection Agent - Cascade Station Rack
Permanent · Portland
NORDSTROM
Asset Protection Agent - Desert Ridge Marketplace Rack
Permanent · Phoenix
ROSS STORES
Store Protection Specialist
Permanent · River Grove
ROSS STORES
Store Protection Specialist
Permanent · Honolulu
ROSS STORES
Store Protection Specialist
Permanent · Long Beach
ROSS STORES
Store Protection Specialist
Permanent · Hialeah
ROSS STORES
Store Protection Specialist
Permanent · Philadelphia
ROSS STORES
Store Protection Specialist
Permanent · San Fernando
ROSS STORES
Store Protection Specialist
Permanent · Boynton Beach
ROSS STORES
Store Protection Specialist
Permanent · Los Angeles
ROSS STORES
Store Protection Specialist
Permanent · Carrollton
ROSS STORES
Store Protection Specialist
Permanent · Dallas
ROSS STORES
Store Protection Specialist
Permanent · West Allis
ROSS STORES
Store Protection Specialist
Permanent · Markham
NORDSTROM
Asset Protection - Coordinator - Portland Distribution Center
Permanent · Portland
MACY'S
Asset Protection Detective, Carlsbad Plaza Camino Real - Full Time
Permanent · Carlsbad
MACY'S
Asset Protection Detective, Park Meadows - Standard Part Time
Permanent · Lone Tree
MACY'S
Asset Protection Detective, Woodbridge Center - Full Time
Permanent · Woodbridge Township
MACY'S
Asset Protection Detective, Fashion Valley - Full Time
Permanent · San Diego
MACY'S
Asset Protection Detective - Overnight, Herald Square - Flex
Permanent · New York
MACY'S
Asset Protection Detective, Mall of New Hampshire - Full Time
Permanent · Manchester
Published
Feb 25, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Sandro, Maje owner hurt by coronavirus as Chinese stores stay shut

Published
Feb 25, 2020

France’s SMCP said on Tuesday that since its last update to the market on January 29, the outbreak of Covid-19 in China is “having a material negative effect on Chinese consumption”. It added that its sales and profitability there “are significantly impacted”. China is a key market for the group that owns the Sandro, Maje and Claudie Pierlot brands.


Sandro



Aside from the impact on its stores, the company has consequently decided to postpone its capital market day that had been scheduled for April 2. It will now happen on September 30.

It’s not only what’s happening within China that’s affecting the firm as it’s seeing issues “to a lesser extent in the other regions, due to a decrease in Chinese tourists”.

The company said it had been generating a strong performance during the first three weeks of January in mainland China, but “a meaningful part of the group’s stores has been temporarily closed in mainland China and in Macau since then. A situation which is changing daily. In parallel, the remaining stores are operating with limited opening hours”.

CEO Daniel Lalonde thanked the firm’s local workers and said the company has a global team in place to monitor the situation on a daily basis, “with the key priority of ensuring the safety, health and protection of our employees and our customers. While we cannot predict the duration of the crisis, we have been taking appropriate measures to mitigate the impact on our business. Beyond this, I remain fully confident in our strategy, the strength of our brands and their potential in China.”

We should hear more about how the China situation is affecting SMCP when it delivers its full-year results on March 25.

Copyright © 2022 FashionNetwork.com All rights reserved.