Jefferies cautious on Australia's Lovisa ahead of half-year results, shares fall

Shares of Lovisa Holdings LOV.AX lose as much as 3% to A$30.13 in early trade

Stock among top losers on broader benchmark .AXJO, which is trading flat

Jefferies remains cautious on Lovisa in the short term, as a challenging consumer environment persists in Australia, as well as the U.S. and Europe

Brokerage says while store count has been increasing recently, investor attention will be on maintaining gross margins, especially against the backdrop of significant cheap online competition

Jewellery retailer to report half-year results on February 19

Jefferies sees NPAT below Visible Alpha estimates by 13%, 7% and 5% for fiscal years 2026, 2027 and 2028, respectively

Brokerage keeps "hold" call, price target at A$32

Stock fell 2.8% in 2025