The ASX’s hottest retailer is up 13-fold since 2022 and investors argue its high returns and aggressive global rollout plans mean it has further to climb.
Budget jewellery retailer Lovisa paid chief executive Victor Herrero $20.9 million in 2022 to make him the second-highest earning CEO in the country’s top 300 companies,
As the founders of Walmart, America’s Walton family is the richest in the world with an estimated $US224 billion fortune slightly ahead of online commerce pioneer Jeff Bezos at $US205 billion.And Topshop’s British founder Philip Green had wealth valued at £4.7 billion in 2007, while Zara’s founder, Amancio Ortega, is Spain’s richest entrepreneur, worth $US54 billion thanks to his 59 per cent stake in Zara-owner Inditex.
UBS estimates Mr Herrero will grow the group to 1166 stores by financial 2026 in addition to 52 franchised stores in the Middle East. Earnings per share are forecast to roughly double from 76.8¢ in financial 2023 to $1.54 in financial 2026.The broker thinks Lovisa can generate a return on invested capital of 45.4 per cent in financial 2023 rising to 67.5 per cent in financial 2026 while rolling out more stores.
It also generates high ROIC as the store rollouts earn fast profits on relatively fixed operating costs. If a store rollout plan doesn’t deliver the desired ROIC, Lovisa will abandon it.
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