Q3 performance driven by Europe and the US Environment still challenging in China Commenting on those results, Isabelle Guichot, CEO of SMCP, stated: “As anticipated, our growth in the third quarter progressively improved, but remains impacted by the deteriorated environment in China. In France, we posted a resilient performance, despite the impact of the Olympic Games in July and August. We also recorded a solid performance in the rest of Europe, thanks to the continuation of our strict discount rate policy, and in America, where the economic environment remains volatil.
In this context, we continued to implement our action plan (particularly in China), and notably made significant progress in pursuing the store network optimization plan, as well as in renegotiations with our lessors. All the Group's teams are fully committed to pursuing the action plan initiated at the beginning of the year, aimed at stimulating our growth while ensuring our financial solidity and protecting our profitability. We are confident that this plan will deliver first tangible results as early as 2025.
” SALES SALES BREAKDOWN BY REGION In France , sales reached €300m in the first nine months, remaining fairly stable (-0.4%) compared to 2023. Third-quarter sales (+0.
4% vs. Q3 2023) were impacted in July and August by the organization of Olympic Games, particularly in Paris, with touristic flows concentrated over just a few weeks, coupled with a drop in local consumer traffic. However, consumer .