Fashion players on ASX-NBL, LOV

  • May 05, 2019 AEST
  • Team Kalkine
 Fashion players on ASX-NBL, LOV

Lovisa Holdings Limited

Lovisa Holdings Limited (ASX: LOV) is a fashion jewellery brand which has its retailing and footprint spread over 320 stores across the nations like Australia, New Zealand, Malaysia, Singapore, Spain, France, the United Kingdom, and the USA. Established in April 2010, it also has franchised stores in the Middle East and Vietnam.

LOV is aiming towards opening net 40 stores in the second half of FY19, moving ahead with its global reach out strategy. It would primarily tap the US and French markets, with the rollout of the new stores.

In February this year, there was a change of the Director’s Interests Notice in respect to changes in the relevant interest in the Company’s securities, held by its Managing Director, Mr Shane Fallscheer. He has completed the sale of 550,000 shares originally acquired in August 2018 on the exercise of vested options, along with 350,000 further shares from existing holdings, to manage the ongoing tax obligations and balance his long-term financial position.

Also, in February 2019, Lovisa Holdings Ltd announced its FY19 half-year results with the following highlights:

  • The revenue of the company had increased by 12.3% and now stands at $133.2m.
  • Gross Margin was up to 81.0% with Gross Profit by 13.0% to $107.8m.
  • The EBIT had increased by 5.1% to $36.5m.
  • Comparable store sales witnessed a down sale by 1.8%.
  • 40 net new stores had successfully opened during the first half of the year and 366 at half-year end.
  • Healthy balance sheet and cash flow was depicted, with cash conversion of 121% and operating cash flow of $49.1m.
  • Fully Franked Final Dividend of 18.0 cents per share was declared by the company.

Share Price Performance:

As on 3 May 2019, the shares were priced at A$9.850 and up by 0.408% from its previous close.

Noni B Limited

Noni B Limited (ASX: NBL) is a leading fashion retailer in Australian region and has substantially grown its business from first 2 stores in Belmont and Swansea region to the present 1400 stores spread throughout the country. NBL is focused to provide best quality services with the best style. It also offers personal style advice to the customers at its stores.

Earlier this year in March, there were few media releases by the Shop, Distributive and Allied Employees’ Association (SDA), as part of the union’s against company’s proposed Enterprise Agreement.

Noni B Group, however, responded to it admitting that its prime focus lied with the team members and misleading statements were not in the best interest of its members. Noni B Group has also been showing its willingness to discuss these concerns with the SDA, especially the ones regarding safety, but has been unfortunate since the SDA has shown no interest to meet the Group and discuss the same.

Also, on 13 March 2019, NBL bought back 100,000 shares with a total consideration of $342,000. Prior to this, the company issued shares (fully paid ordinary shares) to employees as part of the company’s long-term incentive program.

The company published its half-year report for the period ending on 30 December 2018, in February this year. It reflected the total group revenue standing at $464.4m, which was up by 140.4% when compared to the same period of the last quarter.

Share Price Performance:

As on 3 May 2019, the shares were priced at A$2.780 and up by 1.091% from its previous close.


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