The accelerated pace of the roll out of new stores is being turbo charged by the incredible rate of sales in this current FY. Bundle this together with LOV building out new geographic locations with no debt!
Granted it looks expensive but time and time again the best of the best companies always do look expensive. In the case of LOV the economic conditions are going to have negligible impact (look at their target demographic ) The growth and profitability is like a snow ball heading down the mountain and it's a big, big mountain to roll down- Don't ignore this IMO.
Ann: FY22 Full Year Results Presentation, page-30
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