Press release -
Sharp market deterioration in
confirms its full-year sales growth outlook
In all other geographies and brands, the Group has been delivering according to plan, including a positive like-for-like sales growth in Q3 19 as well as in Q4 to date, and a continuously strong performance in Mainland China.
As a result,
Looking forward,
A conference call to investors and analysts will be held today by
FINANCIAL INDICATORS NOT DEFINED IN IFRS
The Group uses certain key financial and non-financial measures to analyse the performance of its business. The principal performance indicators used include the number of its points of sale, like-for-like sales growth, Adjusted EBITDA and Adjusted EBITDA margin.
Number of points of sale
The number of the Group’s points of sale comprises total retail points of sale open at the relevant date, which includes (i) directly-operated stores, including free-standing stores, concessions in department stores, affiliate-operated stores, factory outlets and online stores, and (ii) partnered retail points of sale.
Like-for-like sales growth
Like-for-like sales growth corresponds to retail sales from directly operated points of sale on a like-for-like basis in a given period compared with the same period in the previous year, expressed as a percentage change between the two periods. Like-for-like points of sale for a given period include all of the Group’s points of sale that were open at the beginning of the previous period and exclude points of sale closed during the period, including points of sale closed for renovation for more than one month, as well as points of sale that changed their activity (for example, Sandro points of sale changing from Sandro Femme to
Like-for-like sales growth percentage is presented at constant exchange rates (sales for year N and year N-1 in foreign currencies are converted at the average N-1 rate, as presented in the annexes to the Group's consolidated financial statements as at
Adjusted EBITDA and adjusted EBITDA margin
Adjusted EBITDA is defined by the Group as operating income before depreciation, amortization, provisions and charges related to share-based long-term incentive plans (LTIP). Consequently, Adjusted EBITDA corresponds to EBITDA before charges related to LTIP.
Adjusted EBITDA is not a standardized accounting measure that meets a single generally accepted definition. It must not be considered as a substitute for operating income, net income, cash flow from operating activities, or as a measure of liquidity.
Adjusted EBITDA margin corresponds to adjusted EBITDA divided by net sales.
DISCLAIMER: FORWARD-LOOKING STATEMENTS
Certain information contained in this document include projections and forecasts. These projections and forecasts are based on
This document has not been independently verified.
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ABOUT
CONTACTS
INVESTORS/PRESS PRESS
Célia d’Everlange Hugues Boëton
+33 (0) 1 55 80 51 00 +33 (0) 1 53 96 83 83
celia.deverlange@smcp.com smcp@brunswickgroup.com
1 This guidance is disclosed without taking into account the impact of the application of IFRS 16, effective as of the fiscal year 2019.
Attachment
- Press Release -
SMCP adjusts its 2019 adj. Ebitda margin guidance
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