×
75 864
Fashion Jobs
JCPENNEY
Asset Protection Associate - Sunrise Mall
Permanent · Citrus Heights
JCPENNEY
Asset Protection Associate - Lansing Mall
Permanent · Lansing
JCPENNEY
Asset Protection Associate - South Park Mall
Permanent · San Antonio
JCPENNEY
Sales Floor Supervisor - Crossroads Ctr
Permanent · St. Cloud
JCPENNEY
Asset Protection Associate - Chula Vista s/c
Permanent · Chula Vista
JCPENNEY
Asset Protection Associate - Augusta Mall
Permanent · Augusta
JCPENNEY
Asset Protection Associate - Aventura Mall
Permanent · Aventura
JCPENNEY
Asset Protection Associate - Aurora Mall
Permanent · Aurora
JCPENNEY
Sales Floor Supervisor - Eastgate Mall
Permanent · Cincinnati
JCPENNEY
Asset Protection Associate - Mall Saint Matthews
Permanent · Louisville
JCPENNEY
Asset Protection Associate - West Ridge Mall
Permanent · Topeka
JCPENNEY
Asset Protection Associate - Clackamas Town Ctr
Permanent · Happy Valley
JCPENNEY
Sales Floor Supervisor - Tyrone sq
Permanent · St. Petersburg
JCPENNEY
Asset Protection Associate - Towne West Square
Permanent · Wichita
JCPENNEY
Asset Protection Associate - Pembroke Lakes Mall
Permanent · Pembroke Pines
JCPENNEY
Asset Protection Associate - Washington sq
Permanent · Portland
JCPENNEY
Sales Floor Supervisor - Woodland Shopg Cntr
Permanent · Grand Rapids
JCPENNEY
Asset Protection Associate - Montclair Plaza
Permanent · Montclair
JCPENNEY
Asset Protection Associate - Gateway Mall
Permanent · Lincoln
JCPENNEY
Asset Protection Associate - Solano Mall
Permanent · Fairfield
JCPENNEY
Asset Protection Associate - Rockaway Town Square
Permanent · Rockaway
JCPENNEY
Asset Protection Associate - Oakland Mall
Permanent · Troy
By
Reuters
Translated by
Nicola Mira
Published
Dec 19, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Showroomprivé issues new warning about 2017 results

By
Reuters
Translated by
Nicola Mira
Published
Dec 19, 2017

On Monday, Showroomprivé issued another warning about its 2017 results, after a disappointing performance in the fourth quarter, the period in which the French fashion e-tailer and inventory clearance specialist generates a sizeable part of its revenue and profits.


Photo: Showroomprivé


The group announced that its annual revenue and EBITDA - excluding the Saldi Privati subsidiary - will fall below the expected figures of €690 million and €25 million respectively, without providing any further details.

"Until now, our fourth quarter performance (...) has fallen short of expectations, notably due to a lower-than-planned commercial momentum in some product categories, and to a tougher competitive environment, especially around Black Friday," wrote the group in a press release.

Black Friday, a typically American promotional event which this year featured heavily in Europe and France too, translated into massive discount sales for retailers and distributors in all sectors.

The announcement led to a plunge in Showroomprivé's share price on the stock exchange. The price had fallen by 22% at 4 pm on Monday, to about €7, and lost 66% from the start of the year, for a stock market capitalisation of €247 million.

Showroomprivé stated that it will put forward a new action plan at the time of the presentation of its final 2017 results next March.

In October, the group had already issued a first warning about its results, revising downward the guidance for all its 2017 targets, to take into account the impact of its investments and logistics costs.
In July, Showroomprivé struck a strategic partnership deal with furniture and homeware retailer Conforama, a subsidiary of South African group Steinhoff, currently in turmoil after the opening of an enquiry into alleged accounting irregularities.
At the time, Steinhoff became Showroomprivé's main shareholder, with a 16.9% stake in the group.

Showroomprivé indicated that, after a year in which the group's main focus was its strategic transformation - with the acquisition of Beautéprivée, the partnership with Conforama and the merger with Saldi Privati - its co-founders David Dayan and Thierry Petit will "concentrate on running the business and executing the medium-term strategic road map."

Pascale Denis

© Thomson Reuters 2023 All rights reserved.