Small-cap jewellery retailer Lovisa Holdings Ltd's (ASX: LOV) share price has rocketed up 12.5% to $7.71 at the time of writing – one day post-AGM.
A successful operating year has seen Lovisa log a 24% increase in NPAT to $36 million, a revenue rise of 21% to $217 million, EBIT up 26% to $51.1 million with a net increase of 38 stores.
Citi has a current buy rating on Lovisa, with a price target of $10.75, but the broker has voiced concerns about comparable store sales declines of 0.9% although its international expansion plans appear to be tracking well.
Today's share price rise is a welcome change for Lovisa, with some steep declines in the share price of late – Lovisa shares slid 22% at one point yesterday as its AGM played out.
Several retail stocks are looking like healthy options to get behind lately, with fellow small-cap retailer Noni B Limited (ASX: NBL) back on the incline after a short dip following 9 months of inclines.
Bapcor Ltd (ASX: BAP) also looks to be back in the black after a period of falls.
