Profil:
LPP SALPP fashion does not see consumer weakness, Q3 2024/25 sales growth could be over 20 pct
Listed fashion group LPP sees no weakness in the consumer against Tuesday's Polish retail sales figures. The company estimates that the group's sales could grow by more than 20 percent in the third quarter of the financial year, from August to October, Marcin Bojko, LPP's chief financial officer, informed.
"Yesterday's retail sales figures and the recorded decline are surprising. What we see in August, September and most of October is a completely different direction," the CFO told reporters.
"We are not seeing the weakness of the consumer that the data suggested," he added.
As Bojko said, sales were up more than 20 percent at the LPP group in August and by more than 30 percent in September, but, as he pointed out, the base from last year was low.
"In October, we continue to see growth, despite a very high base. In the third quarter as a whole, it will be a group sales increase of more than 20 percent," LPP's CFO said.
"We are optimistic about the fourth quarter and the full year," Bojko added.
On Tuesday, Poland's stats office GUS reported that retail sales in constant prices in September 2024 fell by 3.0 percent year on year, and fell by 5.7 percent month on month.
The PAP Biznes consensus indicated a 2.2 percent increase in retail sales in constant prices year on year and a 0.9 percent decline month on month.
pel/ asa/ han/ nl/
