TCF POST Report


GDAŃSK, Poland — September 17, 2026 — Polish fashion retail giant LPP S.A. reported a significant acceleration in revenue growth for the second quarter of 2026, driven by robust performance across both physical stores and e-commerce platforms.

The Group's quarterly revenue climbed 18% year-over-year in constant currency, reaching PLN 6.6 billion. The strong performance reflects a sharp turnaround in digital sales momentum alongside sustained expansion in physical retail.

Key Financial & Operational Highlights

  • Brick-and-Mortar Momentum: Physical store sales surged 18.6% year-over-year, supported by improved like-for-like (LFL) store metrics and continuous footprint expansion.
  • E-Commerce Rebound: Online revenues rose 16.4% year-over-year, bouncing back into double-digit growth across all regions following the restoration of full logistics capacity in South-Eastern Europe.
  • Mobile-First Engagement: Mobile applications continued to dominate e-commerce orders, representing 84% of online sales for Sinsay and 63% for Reserved.
  • Global Footprint Milestone: Between May and July, LPP added 230 new stores (including 212 Sinsay locations), pushing its total brick-and-mortar footprint past 4,000 stores across more than 3 million square meters of retail space.

Brand-Wise Performance Highlights

  • Sinsay (Value Segment Anchor): Serves as the primary engine of network expansion and top-line volume. Sinsay accounts for nearly 2,700 of the Group’s 4,000 global stores, benefiting from strong demand in the "smart value" retail segment.
  • Reserved (Flagship Brand): Demonstrated steady demand following a "back to fashion" positioning strategy, utilizing AI algorithms and rapid reordering of best-selling collections to accelerate purchasing cycles.
  • Youth & Lifestyle Brands (Cropp, House, Mohito): Contributed positively to double-digit group performance, particularly during the early Back-to-School season momentum in children's and youth collections.

Market-Wise & Regional Performance

  • Overseas Markets (Outpacing Domestic Growth): International sales expanded 22.2% year-over-year, outstripping domestic Polish expansion as global brand awareness increased.
  • Domestic Market (Poland): Maintained strong momentum with double-digit revenue growth, supported by stabilizing consumer sentiment and solid brick-and-mortar traffic.
  • South-Eastern Europe & Logistics Operations: E-commerce performance in South-Eastern Europe recovered significantly following the launch of a new distribution center in Romania in July 2026, which fully restored fulfillment capacity across the region.

Strategic Growth Drivers & Outlook

In early September 2026, LPP launched the Sinsay Marketplace, opening the brand's digital channel to third-party seller partners for the first time.

"This balanced structure of growth gives us greater resilience against fluctuations in individual segments and builds a stronger foundation for scaling the business," said Marcin Bójko, Vice President and CFO of LPP. "As the marketplace scales, we expect its positive impact to filter through to EBITDA levels starting in 2027."

Looking into the start of the third quarter of FY2026/2027, LPP reported that sales momentum has remained strong, recording a 20% year-over-year increase in the opening weeks of the quarter.