LPP plans to increase revenues by 13% y / y to over PLN 16 billion, lower margins in 2006. 2022/23

LPP plans to increase revenues by 13% yoy to over PLN 16 billion in the financial year 2022/2023 (started in February this year), with a decrease in the area of ​​stores to 1,778,000 sq m. m2, as well as with a lower gross margin on sales and operating margin, the company said.

"Goals for 2022/23: Revenues over PLN 16 billion, + 13% y / y; A decrease in the area to 1 778 thousand sq. M. m2 (assuming the absence of Russia and Ukraine). Focus on the development of Sinsay - over 400 new stores this year; Lower gross margin on sales and operating margin ”- we read in the results presentation.

"In the following years, we assume a return to increases in retail space," wrote the management's report.

In the year of In 2021/2022, the revenues of the LPP Group increased by 78.8% y / y to PLN 14,030 million, while the increase in sales in comparable stores (LFL) amounted to 55.8% y / y.

LPP manages the fashion brands Reserved, Cropp, House, Mohito and Sinsay. The company has been listed on the Warsaw Stock Exchange since 2001.

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