What's Going On With Home Furnishing Brand Lovesac Shares After Q1 Earnings?
Portfolio Pulse from Nabaparna Bhattacharya
The Lovesac Company (NASDAQ:LOVE) shares are trading higher after reporting first-quarter results. The company posted a narrower-than-expected loss per share of $0.83 and beat sales estimates with $132.64 million. Despite a 6.1% year-over-year decrease in net sales, gross profit and margin increased. Lovesac reaffirmed its fiscal 2025 outlook and provided guidance for the second quarter.
June 13, 2024 | 2:35 pm
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Lovesac reported a narrower-than-expected loss per share of $0.83 and higher-than-expected sales of $132.64 million for Q1. Despite a year-over-year decrease in net sales, gross profit and margin increased. The company reaffirmed its fiscal 2025 outlook and provided guidance for Q2.
The positive earnings report, including a narrower-than-expected loss and higher-than-expected sales, is likely to boost investor confidence in the short term. The increase in gross profit and margin, along with reaffirmed fiscal 2025 outlook, further supports a positive outlook for the stock.
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