2215 GMT - Costume jewelry retailer Lovisa's latest snapshot of trading has Jefferies assessing the impact of U.S. tariffs on sales. Lovisa said same-store sales rose by 3.5% in the first 20 weeks of FY 2026. Analyst John Campbell estimates the U.S. represents 24% of Lovisa's sales. Most of Lovisa's product into the U.S. is sourced from Asia, especially from China. "If we assume an average tariff rate imposed on 100% of U.S. sales of 15%, this suggests FY 2026 same-store sales would have to be 3.5% just for the impact of tariffs," Jefferies says. "On this basis, it suggests first 20 weeks of FY 2026 have seen 0% same-store sales and weeks 9-20 low-single-digit negative same-store sales." (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 23, 2025 17:15 ET (22:15 GMT)

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