The Lovisa Holdings Limited (ASX: LOV) share price has plunged 10% today after it provided a trading update for its AGM today.
Lovisa is a fast-fashion jewellery retailer with retail store locations across Australia, South Africa, the UK, the US and many other countries.
Lovisa trading update for FY26
The company released its trading update on the status of its store network and current trading conditions ahead of its annual general meeting (AGM) today.
Lovisa said that it continues to focus on expanding its global store footprint across all markets it operates in. It has opened a net 44 new stores since the beginning of FY26. This takes into account that it opened 62 stores, closed 18 stores including relocating six stores.
The jewellery retailer now has a store network of 1,075 stores across more than 50 markets. Lovisa noted that it’s trading from 148 more stores than this time last year.
Lovisa said that it has benefited from continued growth in the store network over the past year with global total sales for the first 20 weeks of FY26 being 26.2% higher compared to the same period in FY25. Global comparable store sales are also up 3.5% when compared to the same period in FY25.
Final thoughts on the Lovisa share price
Lovisa is one of the most globally ambitious ASX retail shares but it appears that the market is very disappointed about the numbers the company released.
In the first 8 weeks of FY26, total sales were up 28% year on year. Whereas in this update total sales were ‘only’ up 26.2%, so there has been some momentum lost since then.
Comparable store sales in the first 8 weeks of FY26 were up 5.6% but now it’s only up 3.5%.
The market may have wanted more but these growth numbers were still solid and the long term still seems positive with both comparable sales and total sales growing at a steady pace.
The Lovisa share price is still up 17% in the last year, but it’s a lot better value than yesterday.
It’s not cheap, however I think that it’s one of the more exciting ASX growth shares to watch.
