Lovisa reported a 17.1 per cent increase in revenue, achieving $698.7 million in sales over the past year. The improvement was driven by rising sales in Europe (26.9 per cent) and the US (38.5 per cent).
The chain reported a modest 0.7 per cent increase in sales in Australia. Comparative sale-store sales declined by two per cent, while profit increased by 18.7 per cent to $565.8 million.
“The company has once again delivered strong sales, gross margin and profit growth at the same time as investing in the structures to support our steady global expansion,” CEO Victor Herrero said in a statement.
“This positions us well to continue our growth in both existing and new markets. I want to again share my appreciation of the entire global Lovisa team for their hard work and dedication to achieve these results.”
The chain opened 128 new stores over the past year, passing the 900-store mark across 46 markets. The company opened 13 new stores in Australia, bringing its total count to 178.
For comparison, Lovisa has 207 stores in the US and 270 in Europe.
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