Despite a tepid clothing sector in an unseasonably warm September, the company posted stable sales, reaching PLN 4.3 billion (€990m/£855m/$1bn) from August to October, contributing to a commendable 7% year-on-year growth. The latter part of the quarter witnessed a robust demand resurgence, resulting in a substantial improvement in the gross margin, soaring to nearly 56%, and a remarkable year-on-year operating profit surge of almost 57%, surpassing PLN 800 million.
The strategic expansion initiative continued with the unveiling of 102 new stores in Q3, fostering a noteworthy 24% increase in overall retail space. E-commerce sales maintained their robust standing, constituting a solid 24% of the total sales. Sinsay emerged as the standout performer during the quarter, achieving double-digit growth and shining within LPP’s diverse brand portfolio. With stock levels optimized and a sharp focus on sales growth, LPP aims to fortify its presence in Southern and Western European markets in the upcoming financial year. The company also plans to enhance the customer experience by developing mobile apps for all brands. Przemysław Lutkiewicz, vice-president of the management board, expressed confidence in the solid 7% year-to-date rise and highlighted a sales recovery in October and November, with a robust performance during Black Friday week.
