LPP Q3 revenues increase 21.8 percent

In the third quarter of 2017, LPP SA owner of fashion brands: Reserved, Cropp, House, Mohito and Sinsay said that revenues of 1,813 million Polish zloty were 21.8 percent higher than those gained a year ago owing to the increase in sales area, positive sales figures in LFL stores and the dynamic development of online sales. Gross margin amounted to 49 percent compared to 47.1 percent. Despite higher costs of stores and the head office, the company said, it gained profit at an operating level in the amount of 103.1 million Polish zloty (28.6 million dollars) compared to that of 4.8 million Polish zloty (1.3 million dollars) a year ago.

In the third quarter, Reserved stores generated sales of 825 million Polish zloty (229 million dollars), while Cropp stores sales were 302 million Polish zloty (84 million dollars). Sales generated House stores were 205 million Polish zloty (57 million dollars), 200 million Polish zloty (55 million dollars) by Mohito stores and 165 million Polish zloty (46 million dollars) by Sinsay stores. The company said, highest nominal sales growth in Q3 2017 was generated by the Reserved and Cropp brands while the fastest growing brand in the portfolio was Sinsay.

LPP posts Q3 like-for-like sales growth of 15.2 percent

Sales revenues in LFL stores (in local currencies) were positive in each month of Q3, with an increase of 15.2 percent in the entire third quarter. All brands had positive LFL results, with the highest LFL dynamics recorded by Reserved. In Q3, like for like growth was positive in all countries with the highest figures in Hungary, Romania, Ukraine and the Czech Republic.

In the quarter, the company gained revenues of 74.8 million Polish zloty (21 million dollars) from the online sales, which constituted 4.1 percent of the Capital Group’s sales and 5.4 percent of sales in the country. The company added that approximately 72 percent of the online sales were generated domestically.

At the end of Q3 2017, the LPP SA Capital Group had 1 683 stores in 20 countries.

Picture:Facebook/Reserved