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While the cost-of-living crisis has certainly made discretionary spending something which many Aussies are opting out of these days, it appears there is still opportunity for businesses offering cheaper and ‘fast-fashion’ style to make bank.
In this vein, jewellery retailer Lovisa Holdings Ltd (ASX:LOV) has seen its shares rise by more than 2% following a trading update which showed a 10% rise in total sales in the first 20 weeks of the 2025 fiscal year, compared to FY24.
This, Lovisa argued, was vindication in its belief that sales growth was continuing over the past year.
The growth story was also echoed in the company’s report on net new store openings, which topped 27 so far for FY25 – that is, 40 openings and 13 closures – meaning Lovisa now has 927 stores within 49 markets.
As part of the latter, the company observed three new franchise markets had opened in the Ivory Coast, Republic of Congo, and Panama in FY25, with Lovisa now trading in 91 more stores and nine more markets than was the case this time last year.
In a day when the consumer discretionary sector was in the green – registering a 0.76% rise on the ASX – this company in particular was able to applaud a strong performance in share price.
By 13:48 AEDT, Lovisa shares were trading at $27.37 – a rise of 2.05% since the market opened.
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