Lovisa Holdings has maintained its strong position following Victor Herrero's appointment as CEO in October 2021, the business has revealed in its first half update.
In H1 FY22, Lovisa saw a 48.3% lift in revenue to $217.8 million, while comparable store sales increased 21.5% compared to H1 FY21.
Throughout the period, the business continued to invest in its digital capabilities which resulted in a 36% lift in digital sales.
"With local sites operational in local currency and languages servicing all of our company owned markets, we now have an improved platform from which to enhance our customer proposition," Lovisa said in a statement.
"We continue to focus on improving our order fulfilment capability with the implementation of dedicated online fulfilment warehouses in key markets, and our European warehouse in Poland also servicing European online customers.
"We have made good progress online but believe we are still in the infancy stage with our global online offering and we are continuing to invest to support and drive ongoing growth in this area whilst remaining focused on maintaining profitability levels," the business said.
Lovisa reported that gross profit was up 50.5% to $170.7 million with gross margin at 78.3% due to higher freight costs and surcharges on freight rates, but this was offset by favourable exchange rates.
The jewellery retailer reported an EBIT of $49.1 million, a 59% increase on the same time last year.
Lovisa recorded a 70.3% increase in its NPAT to $36.7 million for the first half of FY22.
"I was thrilled to take over running the Lovisa business in such a strong position and we are very pleased with the performance for the first half despite the ongoing challenges and disruptions we face globally from COVID," Herrero said.
"The team have performed very well through this period and have the business well positioned for the next phase of growth with the strength of our balance sheet putting us in a great position to take advantage of future opportunities as they arise," he said.
Lovisa closed the half with 586 stores and net cash of $52.7 million.