Short sellers are under pressure after better-than-expected results from discount jewellery retailer Lovisa Holdings sent the stock soaring to all-time highs this morning.

The retail chain, which is backed by billionaire Brett Blundy, posted sales growth of 18.2 per cent to $373 million in the first half, underpinned by growth in its global store network, topping market expectations. Lovisa posted a 12 per cent rise in net profit to $53.5 million in the 26-week to the end of December.