July 25, 2019 / 6:57 AM / 24 days ago

French fashion group SMCP confirms financial targets as second-quarter sales rise

FILE PHOTO: A Maje label is pictured on clothes inside a Maje luxury clothing store, operated by SMCP Group, in Paris, France, December 21, 2017. REUTERS/Benoit Tessier

PARIS (Reuters) - French fashion company SMCP (SMCP.PA), whose brands include Sandro and Maje, posted higher sales and confirmed its full-year target for an increase in revenues and stable profit margins.

SMCP, which is majority-owned by Chinese retail group Shandong Ruyi (002193.SZ), said its second-quarter sales rose 10% to 265.7 million euros ( £237.2 million ).

SMCP stuck to its 2019 financial targets of sales growth of between 9%-11% at constant currency exchange rates, and a stable adjusted core earnings margin compared to 2018, excluding its recent acquisition of the De Fursac brand.

Reporting by Sudip Kar-Gupta; Editing by Inti Landauro

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