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Demand From Ukrainian Refugees Boosts Polish Retailers’ Sales

  • Demand from refugees, end of pandemic curbs boost 1Q sales
  • LPP, CCC outperform Western European peers facing lower demand

Poland’s leading fashion retailers posted strong first-quarter sales as consumer spending remained buoyant despite surging inflation, with demand for shoes and clothes driven higher by refugees arriving from Ukraine.

The country’s largest apparel company LPP SA boosted operating profit by 136% in the first quarter as sales rose 45% compared with the year-ago figures that were affected by the Covid pandemic. Sales of shoe retailer CCC SA rose 32%, while its operating loss halved from last year.