LPP Heading for Two-Week High as Sales Jump 22 Percent in April
LPP SA (LPP), Poland’s biggest clothing retailer, headed for the highest close in almost two weeks after saying its sales increased 22 percent in April from a year earlier.
The shares advanced 0.4 percent to 2,850 zloty, the highest on a closing basis since April 20, at 1 p.m. in Warsaw trading, valuing the company at 5.07 billion zloty ($1.6 billion). The stock has gained 41 percent this year, compared with a 7 percent rise by the WIG Index.
LPP said in a statement today that its sales increased to about 246 million zloty in April.
To contact the reporter on this story: Piotr Bujnicki in Warsaw firstname.lastname@example.org
To contact the editor responsible for this story: Gavin Serkin at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.