The Lovisa Holdings Ltd (ASX: LOV) share price is up 2%, though it opened down 2%, after releasing its FY25 trading update.
FY25 trading update
The affordable jewellery retailer Lovisa gave an update to investors about its performance for the first 20 weeks of FY25.
It said global comparable store sales, being the sales performance from existing stores, were up 1% year on year in FY25 to date.
Lovisa’s total sales were up 10% year on year for FY25 to date compared to the same period in FY24, benefiting from the continued growth store network over the past year.
Store network growth
The ASX retail share said it continues to maintain its ongoing focus on expanding its global store footprint across all markets in which it operates.
Lovisa said it had opened 27 net new stores opened for the 2025 financial year to date, including 40 new stores opened and 13 closures, including two related to the conversion of its UAE franchise business to company-owned and relocations.
This has taken the store network to 927 stores across 49 markets, with three new franchise markets opened in the 2025 financial year to date in Ivory Coast, Republic of Congo and Panama.
Compared to this time last year, the company said it’s trading from 91 more stores and in nine additional markets.
Is the Lovisa share price a buy?
I think Lovisa is one of the most compelling non-tech ASX shares that’s going global. It already has expanded into numerous countries and it just needs to continue opening additional profitable stores in existing (and new) markets that make sense.
The next five to ten years could be very rewarding for the company’s profit growth and dividend. It’s an appealing long-term buy, in my opinion, but there will be an upper limit to how many stores it can open around the world. I just don’t think it’s anywhere near that ceiling yet. I’m also expecting the journey to be volatile for Lovisa shares.
It’s one of the ASX growth shares on my watchlist at the moment.
