@ballermania I can't read that article as paywalled but I don't see why it would impact LOV in any material way - in either direction.
Motley Fool says (via google search and AI retrieval):
"Investors have been selling this fashion jewellery retailer's shares after it was downgraded by analysts at Citi. In response to a slower than expected store rollout in FY 2025, the broker has downgraded Lovisa's shares to a sell rating from neutral with a reduced price target of $25.05."
Other search results show familiar issues as the potential driver - but not why it's down below $27 today - Disappointing 2023-24 results, CEO Transition, Store growth (expectations for 2025 too high), etc.
Retail sales numbers out today with headlines like in the AFR "Retail sales growth slower than expected; ASX slips" won't be helping.
If you want to sell / short discretionary retail, LOV is a potential way to do it.
Also in the AFR:
Lovisa sinks on UBS downgrade
by Alex Gluyas
UBS has downgraded Lovisa to a “sell” rating as the broker reduced its earnings estimates for the jewellery retailer.
UBS said Lovisa’s rate of new store growth has been modest in recent years and expectations for the first half of 2025 and beyond are “too aggressive”. At the same time, like-for-like (LFL) sales growth has been subdued and Lovisa faces growing risks from its competitors.
“We reduce our earnings estimates to reflect a less bullish approach to net new store growth and lower LFL sales growth, which reduces our valuation,” said UBS analyst Shaun Cousins.
“Given the downside risk to consensus earnings estimates and reduced valuation support, the risk reward is no longer compelling.”
UBS lowered its price target on the stock to $27, from $29 previously. Shares in Lovisa dropped 7.2 per cent to $27.73 by lunchtime on Thursday.
My take - belated broker downgrades (following recent price action and each other) and hard dollars following these enough to generate some momentum sending prices down on low holiday market volumes
Disc: Held.