Lovisa reported an 18.2 per cent increase in sales in the first half of the financial year, reaching $373 million. The company opened 74 new stores during the six-month period and now operates in more than 40 countries worldwide.
The company has opened nine additional stores since the start of the year, taking the global network to 860. Jeweller’s 2024 State of the Industry Report documented 175 stores in Australia.
“The company has continued to deliver solid sales and profit growth and invested in the structures to support our steady global expansion,” CEO Victor Herrero said.
“This positions us strongly to move forward with growth in both existing and new markets.”
Lovisa’s operating profit improved by 16.3 per cent to $81.6 million. The company reported a record 33.1 per cent increase in revenue for the past financial year, achieving sales of $596.5 million.
More reading
Lovisa reports increasing sales as pay dispute continues
US network overtakes Australia: Record jewellery sales for Lovisa
Sales through the roof for Lovisa
Lovisa faces further public scrutiny
Outrage after Lovisa CEO earnings made public
Lovisa plans European expansion after exiting Spanish market