SYDNEY-Fashion jewellery retailer Lovisa Holdings Ltd. has opened 31 new stores so far in its 2022 fiscal year, but said the pace of launch is slowing due to logistics delays and shortage of store construction contractors.
“Although we are closely managing this matter, it may continue to cause delays in launch and increase in store construction costs in the short term,” Loviisa said on Monday.
Lovisa said that after 20 weeks of this fiscal year, it has 570 stores and closed 5 stores. Since the end of the 2021 fiscal year, two franchise stores have been opened in Cyprus, which means it has operations in 21 countries.
Lovisa said that comparable sales in the first 20 weeks of fiscal 2022 will increase by 25% year-on-year. It added that total sales increased by 46%.
Lovisa stated that all stores temporarily closed due to government Covid-19 restrictions have reopened, but its three stores in Austria are now closed due to the country’s lockdown.
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Post time: Nov-22-2021