SMCP (SMCP) Q3 2026 TU earnings summary

Executive summary

• 9M 2026 sales were €888.4m, down 0.8% reported and 0.2% organically; like-for-like growth was 0.7%.

• America and EMEA growth offset pressure in France, while APAC was broadly stable; Q3 organic sales fell 2.0%.

• Average discount rates improved by 2 points YoY, and the retail network ended Q3 at 1,586 points of sale.

Financial highlights

• 9M sales were €888.4m versus €895.5m in 9M 2025; reported change was -0.8% and organic change was -0.2%.

• Q3 sales were €291.4m versus €294.4m in Q3 2025; reported change was -1.0% and organic change was -2.0%.

• 9M like-for-like sales added €6.9m; FX was a €4.5m headwind.

Outlook and guidance

• 2026 objectives were confirmed, assuming no further significant deterioration in French trading conditions.

• The unfavorable French BHV-SGM perimeter effect is expected to ease in Q4; Saks closure effects continue until next January, with lower perimeter impact expected in 2027.

• 2026 results publication is scheduled for February 18, 2027.