Home Furnishing Brand Lovesac Releases Delayed July-Ended Q2 Results: Here's Details
Portfolio Pulse from Shivani Kumaresan
Lovesac Company (NASDAQ:LOVE) reported Q2 FY24 sales growth of 4% YoY to $154.50 million, beating the analyst consensus estimate of $150.66 million. Gross profit rose 16.8% YoY to $92.4 million, with the margin expanding 650 basis points to 59.8%. However, total operating expenses climbed 31.6% YoY to $93.4 million, resulting in an operating loss for the quarter. The company also provided a lower than expected outlook for Q3 and FY24.
November 03, 2023 | 4:53 pm
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Lovesac reported better than expected Q2 sales but also an operating loss. The company's outlook for Q3 and FY24 is lower than expected, which may negatively impact the stock price.
While Lovesac's Q2 sales beat estimates, the company reported an operating loss and provided a lower than expected outlook for Q3 and FY24. This mixed financial performance and negative outlook could lead to a decrease in the company's stock price in the short term.
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