The Lovesac Company Announces Third Quarter Fiscal 2021 Financial Results

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

The Lovesac Company (LOVE) Tops Q3 EPS by $1.04, Revenues Beat

December 9, 2020 7:03 AM EST

The Lovesac Company (NASDAQ: LOVE) reported Q3 EPS of $0.16, $1.04 better than the analyst estimate of ($0.88). Revenue for the quarter came in at $74.7 million versus the consensus estimate of $66.14 million.

Highlights for the Quarter Ended November 1, 2020:

The net sales increase of 43.5% was driven by an increase in internet sales of 125.2%, coupled with an increase in showroom sales of 27.9% partially offset by a decrease of 8.7% in Other sales (which includes shop-in-shops and pop-up shops) related to a decrease in in store pop-up shopsThe gross profit increase of $15.1 million, or 57.3%, was... More