Polish fashion retailer LPP optimistic on third-quarter sales (updated)
23/10/2024 15:35
(Adds executive comment in paragraph 3, details on statistics
office data in paragraph 2)
WARSAW, Oct 23 (Reuters) - Poland's largest fashion
retailer LPP LPPP.WA said its revenue could increase by more
than 20% year-on-year in the third quarter, in an upbeat outlook
that coincided with unexpectedly weak official data on the
country's retail sales.
Polish retail sales fell 3.0% year on year in September,
statistics office data showed on Tuesday, which analysts
attributed to slowing real income growth and last month's floods
knocking consumer optimism.
"Yesterday's data was actually a bit surprising... because
what we see in August, September and also after most of October
is in a completely different direction," LPP Financial Director
Marcin Bojko told journalists.
LPP's third quarter runs from August to October.
Bojko said the company was also optimistic about the fourth
quarter.
LPP's shares were up 1.8% at 1431 GMT.
In September, LPP confirmed its full-year revenue target of
20-21 billion zlotys ($4.96-5.21 billion).
($1 = 4.0307 zlotys)
(Reporting by Anna Koper, writing by Alan Charlish. Editing by
Jane Merriman)
((alan.charlish@thomsonreuters.com;))