• Total sales up 8.8% on prior half year
• Gross Margin up 170bps to 82.4%
• EBIT up 10.7% to $90.2m, NPAT up 6.5% to $56.9m

Lovisa Holdings Ltd reported a solid 1H FY25 performance, with total sales up 8.8% to $406m driven by continued growth in the store network. Global comparable store sales were up 0.1% for the period. Gross margin was a highlight, increasing 170bps to 82.4% through effective pricing and inventory management. EBIT grew 10.7% to $90.2m, while NPAT was up 6.5% to $56.9m. The company continued to invest in the business, with 57 new stores opened during the period, offset by 14 closures/relocations. Lovisa now operates 943 stores across 49 markets globally. The balance sheet remains strong, with net cash of $6.7m at period end and available facilities of $120m to support ongoing growth. An interim dividend of 50 cents per share was declared.

The company reported that trading for the first 7 weeks of the second half of FY25 saw comparable store sales up 3.7% and total sales up 12.9% compared to the same period in FY24.

Lovisa remains focused on continued expansion in existing and new markets, with structures in place to drive growth. The company expects store rollout momentum to continue, having opened 16 new stores since the end of the half, including its 50th market in Zambia.