SMCP Sales Slip in Q4 as Exit From BHV Weighs on France

PARIS — French contemporary conglomerate SMCP posted weaker fourth-quarter sales as its exit from BHV, following the department store’s deal with Shein, weighed on performance in its home country. The group’s sales dipped 1.2 percent at constant currency to 322 million euros after shuttering 26 points of sale across its brands — Sandro, Maje, Claudie Pierlot and Fursac — in all department stores owned by BHV parent company Société des Grands Magasins across the country in the three months to Dec. 31. More ...