In afternoon trade, the (ASX: XJO) has followed Wall Street's lead and is charging higher. At the time of writing, the benchmark index is up 0.8% to 7,760.
8 points. Four ASX shares that are failing to follow the market higher today are listed below. Here's why they are falling: ( ) The Lovisa share price is down 9% to $30.
86. Investors have been hitting the sell button today after the fashion jewellery retailer , Victor Herrero. He will leave in approximately 12 months after four years at the helm.
Given how instrumental Herrero has been in guiding Lovisa's international expansion, the market appears concerned about what might happen when he steps down from the role and hands the reins over to someone new. A replacement has been announced. ( ) The Premier Investments share price is down 4% to $28.
82. This decline also relates to Victor Herrero's exit from Lovisa. That's because his replacement will be John Cheston, who is the CEO of the Premier Investments-owned Smiggle business.
Much like Herrero, Cheston has overseen a very successful international expansion of the retailer. And with Premier Investments recently announcing the potential divestment of Smiggle into a separate listing, the loss of its CEO at this time will be a blow. Cheston will join Lovisa on 4 June 2025.
( ) The Silver Lake Resources share price is down 3.5% to $1.48.
Investors have been selling Silver Lake and other gold miners on Monday following a pullback in the gold price on Friday. This has led to the.
