LPP with 22% revenue growth in January, margin down by 35%

WSE-listed fashion retailer LPP, owner of such brands as Reserved, Cropp and House among others, increased its group sales revenues by some 22 percent year-on-year to PLN 508 million in January, however the gross margin fell by 7 pps y/y to 35 percent, the company said in a market filing. The margin was strongly affected by the sales season of 2016 autumn-winter collection, the company explained, adding that the new spring collection was introduced later than usual, thus affecting the margin. Revenues from internet sales rose by 200 percent to PLN 22.7 million.