Lovisa (LOV) H1 2026 earnings summary

Executive summary

• Total revenue for 1H FY26 reached $500.7m, up 23.3% year-over-year, driven by global store network expansion and 2.2% comparable store sales growth.

• 85 new stores opened, bringing the global total to 1,095 across more than 50 markets, with the largest growth in Europe and the Americas.

• Underlying EBIT rose 20.4% to $109.1m, and underlying NPAT grew 21.5% to $69.6m, excluding Jewells start-up losses.

• Interim dividend increased by 3 cents to 53 cents per share, 50% franked, representing 100% payout of first half reported earnings.

• Underlying results exclude the Jewells startup, providing clarity on core business performance.

Financial highlights

• Underlying gross margin improved by 50bps to 82.9%, with gross profit up 23.4% to $412.9m.

• Cash from operations before interest and tax was $183.8m, up 30.3% year-over-year.

• Capital expenditure was $31.7m, mainly for new store fit-outs and refurbishments.

• Net cash at period end was $12.0m; inventory up 19.5% in line with store and revenue growth.

• Interim dividend of 53 cents per share, 50% franked, with $29.9m paid during the half.

Outlook and guidance

• Store rollout momentum expected to continue, with strong pipeline for new stores and digital expansion in the second half.

• First 7 weeks of 2H FY26 saw total sales up 21.5% and comparable store sales up 1.6% year-over-year.

• Continued investment in support teams, logistics, and technology to drive growth.

• Board will continue to assess dividend levels based on profitability, cash flows, and growth needs.