2344 GMT - Morgan Stanley pushes back on investor concerns that costume jewelry retailer Lovisa's store rollout is losing steam. While store growth slowed to 99 net additions in FY 2024, from 172 in FY 2023, MS notes that momentum has improved since Lovisa's annual shareholder meeting in November. So, consensus hopes for Lovisa to add 100-115 stores annually in FY 2025-2027 look low. Those forecast imply a modest two stores in each market annually, analyst Joseph Michael says. MS is also hopeful that Lovisa's new store concept called Jewells in the U.K. will gain traction and lengthen the company's "growth runway by tapping into a different segment of the market." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
0001 GMT - Morgan Stanley pushes back on investor concerns that costume jewelry retailer Lovisa's store rollout is losing steam. While store growth slowed to 99 net additions in FY 2024, from 172 in FY 2023, MS notes that momentum has improved since Lovisa's annual shareholder meeting in November. So, consensus hopes for Lovisa to add 100-115 stores annually in FY 2025-2027 look low. Those forecast imply a modest two stores in each market annually, analyst Joseph Michael says. MS is also hopeful that Lovisa's new store concept called Jewells in the U.K. will gain traction and lengthen the company's "growth runway by tapping into a different segment of the market." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 01, 2025 20:01 ET (00:01 GMT)
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