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Sandro and Maje Parent Posts Sales Decline — but Notes Early Signs of Improvement in China

SMCP — the group behind Sandro, Maje, Claudie Pierlot and De Fursac — reported a 16.7% decline in first-quarter sales, hit by the spread of the coronavirus around the world, but noted early signs of improvement in China.

The company is in discussions with banks to shore up its financial flexibility. It drew all of a revolving credit facility in March, and its liquidity position at the end of the first quarter stood at 200 million euros.

This story was reported by WWD and originally appeared on WWD.com. To read the full story, please go to WWD.com.

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