VRG stock holds at PLN 5.26 as second quarter profit rises

VRG stock was last at PLN 5.26 on October 7, 2026, with a 0.38 percent session gain on the Warsaw Stock Exchange. The Polish fashion and jewelry group enters the fourth quarter with Q2 revenue of PLN 435.4 million and net profit of PLN 44.8 million.

Second quarter profit accelerates

In Q2 2026, Quartr reported revenue growth of 15.3 percent year over year to PLN 435.4 million. Net profit increased 56.4 percent to PLN 44.8 million, while EBITDA rose 24.4 percent to PLN 98.5 million.

The improvement was not limited to sales. Quartr said gross profit margin rose 2.9 percentage points year over year to 59.8 percent, while jewelry revenue increased 28.0 percent to PLN 257.1 million. Apparel retail revenue grew 0.8 percent to PLN 175.4 million, showing a sharper contrast between the group's two main growth engines.

Millennium lifts its valuation

On September 10, 2026, Parkiet reported that Millennium raised its rating from Accumulate to Buy and increased its price target from PLN 6.22 to PLN 7.20. The new target stood 36.9 percent above the October 7 price of PLN 5.26.

Millennium also pointed to better first-half performance in apparel, store expansion at W.KRUK and the planned development of Lilou, which joined the group in January 2026. The counterweight is shareholder distribution: Parkiet reported a dividend of PLN 0.05 per share, or PLN 11.7 million in total, below the policy range described in the report.

Stock remains below its yearly high

VRG's PLN 5.26 price was 10.2 percent below the 52-week high of PLN 5.86 and PLN 0.93 above the 52-week low of PLN 4.33 on October 7, 2026. Market capitalization stood at PLN 1.2 billion, while trading volume reached 42,286 shares.

The valuation question therefore combines stronger earnings with a stock still below its yearly peak. For investors, the key test is whether the apparel recovery and jewelry expansion can sustain the profit improvement shown in Q2 2026.