LPP shares fall as slower expansion plans disappoint
BUZZ-LPP shares fall as slower expansion plans disappoint ** Shares in Poland's LPP LPPP.WA fall as much as 7.8% after the fashion retailer posted its Q1 results and revised its 2026/27 store opening guidance down
** The company lowered its 2026 Sinsay opening target to 750 from 950 and said it would slow the pace of openings to 300-350 stores annually from 2029
** LPP also lowered its 2026 revenue guidance to 26-27 billion zlotys ($7.1-$7.3 billion) from 28-29 billion zlotys
** Erste Group analyst Piotr Bogusz says the revision is a "negative surprise" as it may be viewed by some investors as reducing the potential for business growth
** Bogusz adds the decision to slow expansion may imply the company has failed to increase sales efficiency or is seeing increasing store cannibalization
($1 = 3.6784 zlotys)
(Reporting by Alicja Surdy)