Lovesac Co Says Files Non-Timely 10-Q With U.S. SEC; Identified Errors With Methodology Used To Calculate Accrual Of Last Mile Freight Expenses Applicable To Financial Statements For FY Ended Jan 29, 2023
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Lovesac Co has filed a non-timely 10-Q with the U.S. SEC, citing errors in the methodology used to calculate the accrual of last mile freight expenses applicable to financial statements for the fiscal year ended January 29, 2023.
September 08, 2023 | 8:07 pm
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NEGATIVE IMPACT
Lovesac Co's late 10-Q filing due to errors in calculating last mile freight expenses could potentially impact investor confidence and the company's stock price.
The late filing of the 10-Q form and the identification of errors in the calculation of last mile freight expenses could raise concerns about the company's financial reporting practices. This could potentially lead to a decrease in investor confidence and a negative impact on the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100