Clothing and footwear: the giants are starting to make up for losses – Handel

There are preliminary data from LPP and CCC for the first quarter of their financial year 2021. Both groups show a jump in revenues compared to the first months of the pandemic a year ago.

In February-April 2021, PLN 2.3 billion of consolidated revenues was recorded by Gdańsk LPP, the owners of the Reserved or Sinsay brands, the company’s management board announced. It’s about 95 percent. more than the same period in 2020 that the COVID-19 pandemic broke out in Europe.

This amount is mostly made up of brick-and-mortar stores, whose turnover increased by 76%. year on year (also due to the development of the network: its area was 24% larger this year) to PLN 1.4 billion. In online stores, LPP customers left PLN 900 million, by 134 percent. more than a year ago.

LPP improved the gross margin on sales by 7.5 percentage points. percent up to 55.7 percent In the first quarter of the financial year, LPP completed PLN 70 million in operating profit (while a year ago it had a loss of PLN 261 million).

The CCC Group also in the period February-April showed PLN 1.43 billion in revenue, by 85 percent. more than a year ago. The current report on this subject indicates – which may be important for investors – that it is also more than in the same period of 2019 (by PLN 300 million).

In the case of the Polkowice group, which grew out of the footwear trade, more than 60 percent. (62.5%) of revenues at that time was generated by e-commerce. It is due to the share of online commerce that the group is slower than LPP in improving profitability. Its gross margin on sales increased by 0.5 percentage points year on year. up to 43.5 percent

“The achieved margin level was significantly influenced by the high share of the e-commerce segment in revenues, as well as the limited possibility of effective sale of the spring-summer collection in stationary outlets in the so-called first prices “- explains CCC in a press release.

In the first quarter of the financial year 2021, CCC had an operating loss of PLN 95 million – estimates the management board. This means that it is lower than the year before by PLN 193 million.

CCC EBITDA was positive and amounted to PLN 59 million.

The CCC Group led by Marcin Czyczerski operated at the end of April through 1,005 stores (less by 38, or 4% than the year before) with an area of ​​670.7 thousand. sq m (less by 1 percent). An increasing number of them (at the end of April 25), but still a definite minority, are modern facilities under the brand.

The Group, in which Cyfrowy Polsat and the founder company of Inpost are to invest, and which consists of an online e-commerce platform, website, as well as – as the announcement shows – an internet business under the Gino Rossi brand – and the aforementioned salons in the first quarter of this financial year, it generated PLN 768 million of revenue. This means an increase of 76 percent. Every year.

At this level of revenues, it had PLN 66 million of operating profit (an increase by 313%) and PLN 81 million of EBITDA (an increase by 212% year-on-year).

CCC is in talks with banks and bondholders about further financing of the group.

Source: by

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