Lovisa (ASX:LOV) online sales up 400% on pcp

Company News

by Anna Napoli

Lovisa (ASX:LOV) says its sales are continuing to recover through the first few months of the financial year, with its online business seeing triple digit growth.

The company said comparable store sales for the first 16 weeks of the 2020 financial year were down 10.2 per cent, an improvement on the 19 per cent fall through the first eight weeks.

Theretailer says its online business has continued to grow, with total online sales up over 400 per cent on last year for the 16 weeks of the financial year to date.

Most stores in its network that had been temporarily closed as a result of COVID-19 government restrictions have now reopened with only 30 stores in metropolitan Melbourne remaining closed as they have been since 6th August. Based on the most recent government guidance these stores are due to re-open on 1st November.

Shares in Lovisa (ASX:LOV) are trading flat at $8.70.