LOV -0.87%: jewellery retailer Lovisa finished lower today in a choppy session as the market digested their first-half result. Revenue was a 5% beat at $315m while EBIT was a slight miss at $70m vs $71m expected. Margin pressure coming through weighed on the numbers today and concerned the market, particularly given the stock is on over 30x PE on FY23 expectations. LFL sales growth for the first 7 weeks was in line with expectations, currently tracking +12.3% on last year while the new store rollout remains on track. Lovisa has done well in a tough market for retailers, it remains expensive but also an attractive stock if economic conditions improve.
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Gerrish: The correction is done, we’re positioning for what comes next
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A discussion with Geoff Wilson – Wilson Asset Management & James Gerrish – Market Matters
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Friday 9th May – Dow up +254pts, SPI up +3pts
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A discussion with Geoff Wilson – Wilson Asset Management & James Gerrish – Market Matters
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