0114 GMT - Lovisa's sales in FY 2027 so far are outpacing market expectations for 1H, contributing to the costume jewelry retailer share price surging more than 15% to A$28.23. It catapults the stock to a six-month high, having been trading at a five-year low price-to-earnings multiple heading into today's result. Lovisa said total sales are up 16.4% in the first eight weeks of FY 2027 when currency swings are stripped out. That's a slight beat to consensus expectations of 13% across 1H as a whole, according to Jefferies. Lovisa also says sales momentum improved in August. Jefferies had a hold call and A$30.00 price target on Lovisa heading into today's result.
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