Business
LOV) share price rockets 19% on half year results
Lovisa Holdings Ltd (ASX: LOV) shares are off to a flying start this morning after the company released its half-year financial report earlier today. In the opening minutes of trade, the Lovisa share price has rocked 19.09% higher to $13.10.
How did Lovisa perform?
Earlier today, the jewellery and accessories retailer released its financial report for the first half of FY21.
The Lovisa share price is soaring despite the company reporting a 26.7% decline in profit after tax of $19.6 million. Lovisa also reported a 9.8% fall in revenue of $146.9 million for the half-year.
Lovisa noted that same store sales fell 4.5% for the half year, with gross margins at 77.2% compared to 78.9% 12 months ago.
The jewellery chain cited that the…
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