Why this ASX retail share is tipped as “tremendous”

Specialist fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV) certainly didn’t escape the ravages of COVID-19 lockdowns unscathed.

The Lovisa share price plunged by more than 65% from 21 February through to 20 March last year. But it’s largely been uphill from there, with Lovisa shares having rocketed more than 500% from their 19 March 2020 lows.

Despite declining revenues and profits reported for the first half of the 2021 financial year, the ASX retailer ended the half year with $42.5 million cash in hand. The company also upped its interim dividend to 20 cents per share (cps), having paid 15 cps in H1 FY20.

Why one broker thinks this ASX retail share is a Buy

Speaking with LiveWire, Monash Investors’ Simon Shields…