Australian jeweler Lovisa Holdings reported full-year FY26 revenue of $938.8 million, a 17.6% increase from the prior year, as global expansion offset softness in core markets. The company attributed growth to 160 new store openings across more than 50 markets, with gross profit rising 18.4% to $775.3 million.
Gross margin expanded by 60 basis points to 82.6%, while EBITDA grew 20.9% to $301.1 million. Net profit after tax increased 10.7% to $95.6 million, with earnings per share rising 10.5% to 86.3 cents. The board declared a full-year dividend of 86 cents per share, a 100% payout of NPAT and an 11.7% increase on the prior year, with the final component set at 33 cents per share, up 22.2%.
Regional performance varied, with Europe and the Americas leading growth at 29.5% and 29.6% year-over-year, respectively. Australia and New Zealand, however, saw a 5.7% decline, while Asia reported a 3.8% drop. Africa and the Middle East grew 12.8%. Comparable store sales rose 2.0% globally.
Store expansion remained a key driver, with the network reaching 1,136 locations by year-end. The company opened 160 new stores in FY26, including 76 in Europe and 44 in the Americas, and entered six new franchise markets: Reunion, Mauritius, Ghana, Kenya, Burkina Faso, and Iraq. Capital expenditure totaled $58.5 million, primarily for 148 new company-owned stores. Net debt stood at $40.3 million, with committed debt facilities extended to $120 million for three years.
Lovisa also upgraded 53 stores to its Series 5 concept, featuring enhanced elements such as a store-in-store piercing studio and dynamic digital displays. An additional 28 Series 5 stores are planned for the first half of FY27, with total new store openings expected to remain around 160.
Early trading in FY27 showed continued momentum, with total sales up 16.4% in the first eight weeks on a constant currency basis. Comparable store sales grew 3.0%, accelerating from the full-year FY26 rate of 2.0%. Shares rose 15.55% to $28.31 following the announcement.
