LPP estomates net income in Q2 at PLN 89 million, below expectations.

LPP says it estimates  PLN 89 million net income and PLN 159 million EBITDA for Q2,  the company's statement reads. The results are below market's estimates. LPP, the company which manages six clothing brands ( RESERVED, Tallinder, Cropp, House, MOHITO and SiNSAY) in Q1 increased its shops surface by 14 percent y/y. As of end of March, the company was present in 18 countries in Europe and Middle East. Revenue were at PLN 1.2 billion, a rise of 17 percent y/y. Internet sales were 52 percent higher than the year before. LPP is listed on the Warsaw Stock Exchange since 2001. It manages more than 1600 shops and hires 20,000 employees.