Poland's largest fashion retailer, LPP, saw a 7% decrease in its net profit for the fourth quarter, amounting to 450 million zlotys ($117.55 million). This fell short of analysts' expectations by 70 million zlotys due to increased operational costs impacting earnings, despite strong online sales.

LPP stated that the percentage of selling, general, and administrative costs (SG&A) in revenue climbed to 41% in the quarter, up from 38% the previous year. This increase reflected rising expenses related to expansion and labor, as noted by the company.

(1 USD equals 3.8280 zlotys)

The information was provided by Marta Maciag and edited by Milla Nissi.