Highlights

  • FY26 Revenue reached A$938.8 million, while EBIT rose to A$158.2 million and net profit after tax reached A$95.6 million.
  • The store network ended FY26 at 1,136 locations after 160 openings, 43 closures and 12 relocations during the year.
  • Comparable store sales increased 2.0% in FY26, showing that most total revenue growth came from network expansion.
  • Early FY27 trading showed total sales growth of 16.4% in constant currency and comparable sales growth of 3.0% for the first eight weeks.
  • Execution across new markets, store productivity and Margin management remain central to the next phase of expansion.

Lovisa Holdings (ASX:LOV) is a specialty fashion jewellery retailer operating a global network of stores and digital channels. Its FY26 result, released on August 26, 2026, showed continued expansion across international markets, with revenue growth outpacing profit growth as the company added new stores while comparable sales remained more moderate.

FY26 Revenue and Earnings

Lovisa Holdings (ASX:LOV) reported FY26 revenue of A$938.8 million, up 17.6%. EBIT increased 14.1% to A$158.2 million, while net profit after tax rose 10.7% to A$95.6 million. Operating Cash Flow reached A$294.5 million, up 21.0%, and the full-year Dividend was 86 cents per share. The result shows a Business continuing to grow, although profit increased at a slower pace than revenue.

Expansion Remained the Main Growth Driver

The company opened 160 stores during FY26, closed 43 and relocated 12, ending the year with 1,136 stores across more than 50 markets. Europe remained a major expansion area, with 76 new stores opened during the period. For Lovisa Holdings (ASX:LOV), this network-led model means new stores are an important contributor to group sales, while execution depends on site selection, staffing, inventory management and local customer demand.

Comparable Sales and Margin Focus

Comparable store sales increased 2.0% during FY26, well below total revenue growth of 17.6%. This indicates that the expansion programme, rather than growth from existing stores, accounted for most of the increase in sales. EBIT growth of 14.1% also trailed revenue growth, placing attention on store productivity and operating costs as the network becomes larger. These measures are important because new locations add revenue but can also raise labour, occupancy and operating expenses.

Early FY27 Trading

For the first eight weeks of FY27, Lovisa Holdings (ASX:LOV) reported total sales growth of 16.4% in constant currency, with comparable store sales up 3.0%. The early trading period suggests existing-store growth improved from the FY26 rate, although eight weeks remains a limited portion of the financial year. Management plans to continue expanding both the physical store network and digital presence, keeping the focus on whether new sites can add sales without placing sustained pressure on margins.

Key Risks and Operating Considerations

Lovisa remains exposed to discretionary consumer spending, store rollout execution, sourcing costs, freight conditions and currency movements across its international markets. Rapid expansion also increases the need for consistent site selection and inventory control. If comparable sales remain modest while operating costs rise, profit growth could continue to lag revenue growth. The company also needs to balance the pace of new openings with the performance of the existing network.

Key Insights

Lovisa Holdings (ASX:LOV) entered FY27 with a larger global store base, higher revenue and higher earnings, but the FY26 figures also show that expansion is doing much of the work. The most useful indicators for assessing the next stage are comparable store sales, EBIT margin movement, net store additions and the performance of newly opened locations. Together, these measures will show whether network growth can translate into sustained operating improvement.

What were Lovisa Holdings’ FY26 revenue and profit figures?

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