Information on the transaction on the issuer’s shares
Current Report No.: 47/2016
Date: 21.09.2016; 14:23
The Management Board of LPP SA (hereinafter the Issuer, the Company) announces that on September 21, 2016, they received the notification of the transaction consisting in the acquisition of shares of LPP SA by Mr. Przemyslaw Lutkiewicz performing managerial responsibilities in the Company.
The Company attaches the notification received to this report.
Closing the Tallinder brand
Current Report No. 46/2016
Date: 06.09.2016; 10:45
The Management Board of LPP SA announces that on September 6, 2016 it decided to abandon the development of the Tallinder brand.
The Tallinder brand has 8 stores operating in Poland. The financial performance of the brand was significantly below the adopted budget. The current level of sales turned out to be three times lower than the initial plans and – even after revision – there is no guarantee of profitability of the Tallinder brand in the next few years. The estimated loss of the Tallinder brand for the entire 2016 may amount to approx. PLN 20 million, with the originally planned loss of approx. PLN 1 million.
Employees responsible for products, marketing and sale in the Tallinder brand will be offered to stay in the company and strengthen the teams of Reserved or other brands of LPP. The stores of the Tallinder brand will continue to operate until the end of February 2017 – until completion of the sale of the fall-winter 2016 collection. Tallinder store employees will be invited to join the teams of the stores of our other LPP brands.
The Company estimates that the amount of the reserve in 2016 needed to carry out the process of closing the Tallinder brand will be approx. PLN 26 million.
Resignation of a member of the Management Board of LPP SA
Current Report No. 45/2016
Date: 06.09.2016; 10:41
The Management Board of LPP SA announces that on September 6, 2016, Mr. Hubert Komorowski resigned from his position as Vice President of the Management Board of LPP SA with effect as of today.
The resignation is dictated by personal reasons. Mr. Hubert Komorowski intends to start his own business outside the clothing industry.
Vice President Hubert Komorowski has worked in LPP since 2000, and since 2009 he was a member of the Management Board. He supervised the House, Mohito and Sinsay brands. Until the end of the year, the outgoing Vice President will remain available to the company in an advisory capacity. This will allow the closure of pending projects and the smooth transfer of responsibilities to the President of the Management Board Marek Piechocki, who will take over supervision of the Mohito, House and Sinsay brands.
The Supervisory Board of LPP SA has no plans to soon appoint a new member of the Management Board.
Revenues from sales generated by LPP SA Capital Group in August 2016
Current report no.: 44/2016
Date: 01.09.2016; 14:45
The Management Board of LPP SA hereby informs that consolidated revenues from sales of LPP SA Capital Group generated in August 2016 totaled about PLN 495 million and were higher about 15% in comparison with the revenues generated in August 2015.
Estimated gross margin on sales would be 45% and was lower to gross margin on sales achieved in August in the previous year about 8 percentage point.
In the period between January and August 2016 consolidated revenue from sales totaled about PLN 3 707 mln and were higher about 17% as compared with the revenue generated in the corresponding period in the previous year.
The E-commerce revenues from sales in August 2016 totaled about PLN 10.1 mln and were higher about 130% in comparison to August 2015.
In the period January – August 2016 the E-Commerce revenues from sales totaled about 88 mln PLN and were higher by 103% year over year.
The commercial area at the end of August 2016 was about 876 thousand of square meters and was about 12% higher as compared to the end of August 2015.