Lovisa (ASX:LOV) shuts stores due to Covid-19

Company News

by Lauren Evans

Lovisa Holdings (ASX:LOV), a fast-fashion retailer in jewellery and accessories, have continued to experience disruptions in trading and temporary store closures as a result of the governments COVID-19 measures over the recent months. The company have continued to experience temporary store closures in a number of locations.

Due to the recent Covid-19 outbreak and government restrictions, 36 stores in Victoria were forced to shut down, 32 stores in the Greater Sydney remain closed and 8 stores in South Australia have closed. 

From around the world, 28 stores in Malaysia remain temporarily closed due to covid-19. 6 stores in South Africa remain closed as a result of the civil unrest and rioting the country has been experiencing over the past week, with re-opening subject to the situation being under control, shopping malls re-opening and their team being able to safely return to work.

The timeline for Lovisa stores being able to re-open is subject to government advice and will continue to be monitored closely. 

Shares in Lovisa (ASX:LOV) are trading 1.88 per cent lower at $15.17.

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