Lovisa's (ASX:LOV) China hub to return to normal levels are coronavirus delays

Company News

by Rachael Jones

Accessories company Lovisa (ASX:LOV) says their suppliers and our distribution hub in China have begun to return to normal levels, however they continue to experience delays in freight movements out of China.

Meanwhile all of their stores in France and Spain have been closed since Sunday 14th March, with stores in Spain expected to remain closed until at least the end of the month.

Stores in France are currently expected to remain closed until the middle of April, both as a result of a government imposed shut-down.

All of their stores in Malaysia have been closed since Wednesday 18th March and are expected to remain closed until at least the end of the month.

As at today they currently have 25 stores closed or closing across the USA as a result of local government directives for shopping malls to close which are expected to remain closed until at least early April.

Shares in Lovisa (ASX:LOV) closed 25.21 per cent lower at $4.36 yesterday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.