The addition of 53 stores was more on the lower side of my expectations, brought down by the 20 store closures, however, the fact that the margins have moved higher means management is still executing well in their rollout and store efficiency. The operating margins of 80%+ still blow my mind, wish there were more businesses out there in the market like Lovisa.
Ann: 1H FY24 Half Year Results Presentation, page-42
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