This week, CMC Markets’ Michael McCarthy likes Lovisa (LOV), a “fast fashion” retailer that specialises in pop up shops and low cost, short life consumer goods.
“I like Lovisa,” says Michael. “Targeting younger consumers, in my opinion LOV has demonstrated a way forward for bricks and mortar retailing by providing a quality that online retailers can’t match – immediacy. The price was far too frothy above $12 per share, but closer to $7 it looks like a potentially attractive price to buy,” he adds.
Chart 1: Lovisa