Lovisa Holdings Ltd (ASX:LOV)
A$ 32.08 0.7 (2.23%) Market Cap: 3.52 Bil Enterprise Value: 3.81 Bil PE Ratio: 47.80 PB Ratio: 33.84 GF Score: 94/100
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Half Year 2021 Lovisa Holdings Ltd Earnings Call Transcript

Feb 18, 2021 / 11:30PM GMT
Release Date Price: A$11 (+0.46%)
Shane Roland Fallscheer
Lovisa Holdings Limited - MD & Executive Director

Thank you. Good morning, everyone, and thanks for taking the time to dial in. On the call today, you have myself, Shane Fallscheer, Managing Director; and Chris Lauder, our CFO. As you are aware, we published our half year results to the ASX this morning, so we would like to talk you through those results. I will now do a page turn through the presentation, and we're happy to take any questions at the end.

If we turn to Page 4, we will talk through some of the details of the first half of FY '21. After a challenging start to the financial year, with markets going through various stages of closure due to the impact of COVID, we saw an improvement in sales through the second quarter to deliver comparable store sales for the half year of 4.5% in minus, with total sales down 9.8% for the half. Our cost of doing business was well managed, finishing at 50% for the half, delivering a half year EBIT, which was down 24% on the year prior, to $30.9 million. This is excluding the impact of the new lease accounting standards. And

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