Business
Jewellery chain Lovisa’s profits slide as forced closures stifle trading conditions – NEWS.com.au
Jewellery chain Lovisa’s profits slide as forced closures stifle trading conditions
Large-scale shutdowns sparked by the coronavirus pandemic have caused Lovisas profits to tank, with the mass market jewellery retailer deciding it will exit its Spanish operations. Releasing its full-year results on Wednesday, Lovisa said trading conditions in key markets remained “challenging”, with the global economic recession dragging down comparable store sales by 19 per cent for the first eight weeks of the 2021 financial year.
For the 12 months ending June 30, the jewellery retailer book…
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