Lovisa has revealed that international store expansion and digital sales have held it in good stead during the pandemic.
Thanks to its Beeline acquisition in Europe, Lovisa added 87 stores to its footprint, as well as opening a further 22 stores in existing markets - with the retailer closing out the period with 544 stores across the globe.
Despite disruption, the stores delivered positive results, with comparable store sales up 8.1% on FY20.
Meanwhile, its digital store delivered 178% growth in FY21, driven by an acceleration of its digital capabilities which began in FY20.
"We now have websites servicing all of the company owned markets we operate in, including the new European markets, with local sites operational in local currency and languages," Lovisa said in its FY21 results.
"We have also improved our customer focus with 24/7 global live chat, improved global social influencer program, and improved order fulfilment capability with the implementation of dedicated online fulfilment warehouses in the UK, USA and South Africa, and our new European warehouse in Poland also servicing European online customers.
"We continue to invest in support structures to drive ongoing growth in this area and remain focused on maintaining the profitability levels of our online sales," Lovisa said.
The jewellery retailer reported that revenue was up 18.9% to $288 million in FY21.
Lovisa's EBIT increased by 39.4% to $42.7 million, while NPAT lifted 43.3% to $27.7 million during the period.
Gross margin was up 77%, while gross profit increased 18% to $221 million.
Lovisa MD Shane Fallscheer welcomed the business' results.
"We are pleased with the performance of the business for the year, in particular with the sales performance we saw across most markets since the end of Q1FY21 with solid trading despite the continued global challenges we face with the impact of COVID.
"The strength of our balance sheet and the current global footprint puts us in a great position to take advantage of future opportunities as they arise," he said.
The retailer closed the period with net cash of $35.6 million of cash debt facilities and $20 million of bank guarantee facilities in place.
Lovisa's final dividend was 18 cents per share, 50% franked.