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Polish Fashion Retailer LPP Wants to Revive Dividends Next Year

Polish Fashion Retailer LPP Wants to Revive Dividends Next Year

Saturday, 10 October, 2020 - 06:45
Fashion - Reuters photo

Poland’s biggest fashion retailer LPP aims to pay out dividends next year after deciding against any payout this year, its deputy head Przemyslaw Lutkiewicz said on Friday.


LPP, which sells mostly in shopping malls that were temporarily closed and are now being visited by fewer customers than a year earlier, has been severely hit by the pandemic.


“Indeed in the difficult COVID times, the management board recommended not to pay out dividend from last year’s profit. But we do plan and we would want very much to return to a dividend payout next year,” Lutkiewicz told an online conference.


Earlier on Friday LPP said its net loss in the second quarter of its financial year 2020/21 was 31 million zlotys ($8.16 million) compared with 32 million zlotys a year ago.


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