Lovisa Holdings (ASX:LOV) Expands Global Footprint: 27 New Stores Opened in FY25 So Far

Thu 02 Jan 25, 03:52 AM | Team Kalkine

Image source: Shutterstock

Highlights

FY24 revenue of LOV increased by 17.1% YoY to AUD 698.7 million, despite a 2% decline in comparable store sales.

Net Profit After Tax (NPAT) in FY24 grew 20.8% YoY to AUD 82.4 million.

On 16 December 2024, State Street Corporation became a substantial shareholder with 5.10% voting rights

In FY25 so far, 27 new stores have been added, bringing the total to 927 locations across 49 markets.

Lovisa Holdings Limited (ASX:LOV) is an Australian-based global fashion jewellery retailer specialising in affordable, trend-driven accessories. For the 12 months ending 30 June 2024 (FY24), Lovisa delivered revenue of AUD 698.7 million, a 17.1% increase from FY23. The revenue growth was primarily attributed to the expanding store network, which offset a 2% annual decline in comparable store sales. Net profit after tax (NPAT) in FY24 rose to AUD 82.4 million, representing a significant growth of 20.8% year-over-year.

In the second half of the year, trading performance improved across the organisation and comparable store sales were positive in the second half.

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