LPP Heading for Two-Week High as Sales Jump 22 Percent in April

May 2 (Bloomberg) -- LPP SA, 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 pbujnicki@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net