What Does Lovisa Do?
Lovisa Holdings Limited [ASX:LOV] is a specialist fast fashion jewellery retailer. The company was founded in 2010. According to the company’s website, it now has over 220 company owned stores across Australia, New Zealand, Singapore, Malaysia and South Africa. It also has franchised stores in Kuwait, the United Arab Emirates and Saudi Arabia.
What’s Happening to Lovisa Shares?
The company listed on the Australian Stock Exchange on December 18, 2014. As you can see, it’s enjoying a nice uplift…
LOVISA’S NICE START TO THE YEAR
In February, the company released its results for the first half of the financial year. The announcement said Lovisa had ‘achieved sales of $73.3 million, up 33% on 1H FY2014 and reaffirms Prospectus forecasts.’
What Now for Lovisa?
As you can see, the strong move up in Lovisa shares started at the beginning of April. The stock market is pricing in strong earnings to come for the company. We can expect an excellent full year result if this continues.
That fact that a discretionary fashion company is making such strong sales suggests the global economy is more robust than many give it credit for. To see why we are very positive over at Cycles, Trends and Forecasts, start here.
Editor, Markets and Money