عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

Polish Fashion Group LPP Says it Won't Return to Russia

FILE PHOTO: Clothes are displayed on the mannequins at Polish fashion retailer LPP brand Reserved shop, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 4, 2020. Picture taken September 4, 2020. REUTERS/Kacper Pempel/File Photo
FILE PHOTO: Clothes are displayed on the mannequins at Polish fashion retailer LPP brand Reserved shop, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 4, 2020. Picture taken September 4, 2020. REUTERS/Kacper Pempel/File Photo
TT
TT

Polish Fashion Group LPP Says it Won't Return to Russia

FILE PHOTO: Clothes are displayed on the mannequins at Polish fashion retailer LPP brand Reserved shop, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 4, 2020. Picture taken September 4, 2020. REUTERS/Kacper Pempel/File Photo
FILE PHOTO: Clothes are displayed on the mannequins at Polish fashion retailer LPP brand Reserved shop, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 4, 2020. Picture taken September 4, 2020. REUTERS/Kacper Pempel/File Photo

Polish fashion group LPP will not return to Russia, its CEO said on Monday and repeated that the company had exited the country, seeking to reassure investors after a Hindenburg Research report questioned the sale of its business there.
In a call on Monday, Marek Piechocki also said the company would consider a share buyback, though shareholders would have the final say.
The company's shares were 24% higher by 1025 GMT, partially recovering from a 36% fall on Friday after Hindenburg Research's report.
LPP again denied the allegations in the report and said it has no operating or trading activities in Russia.

Most Viewed

 
 
Fashion

Adidas Sees Growth at High Single-Digit Rate in 2025 

Adidas sneakers and other shoes for sale are pictured at a shop in Berlin, Germany, May 2, 2024. (Reuters) 
Adidas sneakers and other shoes for sale are pictured at a shop in Berlin, Germany, May 2, 2024. (Reuters) 
TT
TT

Adidas Sees Growth at High Single-Digit Rate in 2025 

Adidas sneakers and other shoes for sale are pictured at a shop in Berlin, Germany, May 2, 2024. (Reuters) 
Adidas sneakers and other shoes for sale are pictured at a shop in Berlin, Germany, May 2, 2024. (Reuters) 

Adidas expects sales growth of up to 10% this year, slowing slightly after a strong 2024, as it sees continued double-digit growth for the adidas brand.

Under CEO Bjorn Gulden, Adidas has typically managed the market's expectations to deliver stronger results than forecast each quarter.

It expects annual revenues to increase at a high single-digit rate in currency-neutral terms, lower than the 12% growth it delivered last year.

In the key holiday shopping quarter, Adidas sales grew by 15% in North America, a key battleground in its attempt to take market share from bigger rival Nike. Revenues were up 25% in Europe, 31% in Latin America, and 16% in Greater China in the quarter.

Adidas expects North America and Greater China, among others, to deliver double-digit rate growth in brand sales in the current year.

Its operating profit should reach a level of between 1.7 billion euros and 1.8 billion euros ($1.8 billion and $1.9 billion) this year, Adidas said in a statement, up from 1.34 billion in 2024.