Polish retailer Modivo lags Q2 core profit view as online sales fall

Modivo SA

07/08/2026 07:52

Aug 7 (Reuters) - Polish footwear and fashion retailer Modivo MDVP.WA reported a lower-than-expected second-quarter core profit on Friday, as weakness in its main online business offset strong growth in the HalfPrice chain.
Modivo's adjusted earnings before interest, taxes, depreciation and amortisation rose 2% to 390 million zlotys ($104.5 million), missing a median estimate of 407 million zlotys from analysts polled by Reuters.
The group is leaning hard on its off-price strategy, having in May unveiled its "ShockPrice" concept targeting heavily price-sensitive customers.
Revenue at its established off-price retailer HalfPrice grew 54% to 769 million zlotys in the quarter. 
Total revenue rose 3% from a year ago, with offline sales jumping 31% and online sales falling 9%.
Its core CCC brand recorded a 16% drop in inventory per square meter.
However, a growing share of licensed brands across Modivo's business lines boosted like-for-like sales growth and gross margin.
($1 = 3.7323 zlotys)

(Reporting by Marta Maciag, editing by Milla Nissi-Prussak)
((Marta.maciag@thomsonreuters.com))