2200 GMT - Lovisa's latest snapshot of trading looks negative to RBC Capital Markets. At its annual shareholder meeting, Lovisa provided detail on comparable sales, total sales and net store additions. "All three were below market expectations," analyst Wei-Weng Chen says. Lovisa's sales rose by 1.0% in the first 20 weeks of FY 2025 when measured on a comparable basis. That's below the 2.5% consensus growth forecast for 1H, RBC says. Total sales growth of 10% in FY 2025 so far is short of consensus hopes of 13.2% in 1H. Meanwhile, 27 net new stores are below the 48 additions that the market has been anticipating in 1H. Lovisa ended Thursday at A$26.82. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 21, 2024 17:01 ET (22:01 GMT)
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