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Lovisa shutters UK stores again as lockdown begins anew

Image of Lovisa jewellery
Lovisa remains committed to its international expansion plan. (Source: Facbook)

As the UK enters its Tier 5 lockdown, which seeks to keep all members of the public indoors to avoid further spreading of the Covid-19 pandemic, jewelry chain Lovisa has announced it will shut all 42 of its stores in the region for an undetermined amount of time.

The stores in question were shuttered from November 2 to December 2 during the previous lockdown period, and will be reopened “subject to further government advice” moving forward.

“All our other stores globally as well as our online business remain open and trading,” the business said in a statement on the ASX.

The UK has struggled to contain the virus in recent months, with total cases cresting 2.8 million and deaths 77,000.

Lovisa saw strong growth in the beginning of FY20, but by the end of the period had seen total sales fall 3.2 per cent to $242.2 million and profit 47.8 per cent to $19.3 million.

Managing director Shane Fallscheer said comparable sales recovered slowly since it initially reopened stores, though since then it has had to shutter its stores multiple times across the several regions it operates in.

The business did act to ramp up its online presence in Q4, launching a new website in South Africa and the US.

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