BUZZ-Australia's Lovisa hits 9-month low as sales growth misses expectations

Reuters
2024-11-22

** Shares of Lovisa fall as much as 5.7% to A$25.300, their lowest since Feb. 21

** Fast-fashion jeweler retailer reports FY25 first 20 weeks' global like-for-like sales growth of 1% vs VA consensus of +2.5% for the 1H25

** Firm's total sales for FY25's first 20 weeks up 10%, which are down from +13% in the first 8 weeks, Citi says

** Brokerage flags caution on store quality and potential slowdown in expansion

** Stock set for seventh session of consecutive losses, if current trend holds

** Stock up 7.4% YTD, including current session, as of 2354 GMT

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com))

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