Lovisa (ASX:LOV) see northern hemisphere markets decline due to Covid

Company News

by Rachael Jones

Jewellery and accessories company Lovisa (ASX:LOV) saw profit for the half down 22.6 per cent to $21.5 million compared to the last half.

Revenue was $146.9 million, down 9.8 per cent with Q1 heavily impacted by temporary store closures in Victoria, Australia, as well as weakness in most global markets.

Northern Hemisphere markets declined as Covid cases began to increase again and temporary store closures were again put in place.

Growth in the European and US markets continued during the period, with 4 new stores opened in France and 14 in the US.

Shares in Lovisa (ASX:LOV) are trading 17.45 per cent higher at $12.92.