The Lovesac Company Announces First Quarter Fiscal 2021 Financial Results

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Go back to The Lovesac Company Announces First Quarter Fiscal 2021 Financial Results

The Lovesac Company (LOVE) Tops Q1 EPS by 9c, Revenues Beat

June 9, 2020 7:02 AM EDT

The Lovesac Company (NASDAQ: LOVE) reported Q1 EPS of ($0.58), $0.09 better than the analyst estimate of ($0.67). Revenue for the quarter came in at $54.4 million versus the consensus estimate of $47.18 million.

Highlights for the First Quarter Ended May 3, 2020:

The net sales increase of 32.8% was driven by an increase in internet sales of 255.4%, an increase of 11.0% in Other sales (which includes shop in shops and pop-up shops), partially offset by a decrease in showroom sales of (32.7%) due to the impact of showroom closures related to COVID-19. The gross profit increase of... More