Jewellery sales shine bright as Australians keep shopping | MsEmmaK
given the stock had been affected by lockdowns across the world over the past year. The stock had been sold down in the first half of 2022.
Lovisa’s growth strategy involves expanding its bricks-and-mortar store network right across the world, and the business now has 629 stores.Herrero said the company managed to open a net 85 new stores throughout 2022, and had worked hard to find efficiencies in spite of rising costs and construction delays in a range of markets.Lovisa was not the only ASX-listed jewellery retailer pointing to strong consumer sentiment.Michael Hill also surged at the open, up 9.3 per cent to $1.
The company also noted that profit grew faster than sales over the past year, in a sign that its turnaround strategy is working.
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