0154 GMT - Lovisa's bear at Citi sees U.S. trade tariffs as another headwind for the Australian fashion jeweler. Analyst Sam Teeger points out that Lovisa sources most of its supply from China, and also draws upon India and Thailand production. He sees a potential gross margin impact with those countries hit by tariffs of 34%, 26% and 36%. With 22% of Lovisa's stores located in the U.S., Teeger writes in a note to clients that Lovisa is also exposed to any consumer reluctance to spend on newly costly discretionary items such as costume jewelry. Citi has a sell rating and A$25.86 target price on the stock, which is down 5.7% at A$22.52. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 02, 2025 21:54 ET (01:54 GMT)
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