Lovisa Holdings trading update highlights

Lovisa Holdings (ASX:LOV) has released a trading update prior to their Annual General Meeting. The company reported a 1.0% increase in global comparable store sales for the first 20 weeks of FY25 compared to FY24. Total sales saw a 10% rise, driven by their expanding store network.

Lovisa Holdings trading update summary

Lovisa Holdings has announced a positive trading update with a noticeable increase in global comparable store sales and total sales, which rose by 1.0% and 10% respectively for the first 20 weeks of FY25. This growth is attributed to their aggressive store expansion strategy, adding 27 net new stores, and entering new markets such as Ivory Coast, the Republic of Congo, and Panama. Lovisa now operates 927 stores across 49 markets, a significant increase from the previous year. The company's strategic focus remains on expanding its global footprint and enhancing market presence.

Executive insights from Lovisa Holdings

The expansion of our store network has been a key driver of our sales growth, with 27 net new stores opened so far this financial year. We have successfully entered three new franchise markets: Ivory Coast, the Republic of Congo, and Panama.