The Lovesac Company Reports Record Fourth Quarter and Fiscal 2021 Financial Results
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April 15, 2021 7:25 AM EDT
Canaccord Genuity analyst Maria Ripps raised the price target on The Lovesac Co. (NASDAQ: LOVE) to $77.00 (from $65.00) while maintaining a Buy rating.
The analyst commented, "Lovesac reported strong 4Q21 results, with 41% y/y total revenue growth and record profitability, capping off a year when... More
April 14, 2021 7:03 AM EDT
The Lovesac Company (NASDAQ: LOVE) reported Q4 EPS of $1.37, $0.79 better than the analyst estimate of $0.58. Revenue for the quarter came in at $129.7 million versus the consensus estimate of $116.13 million.
Highlights for the Fourth Quarter Ended January 31, 2021:
The net sales increase of 40.7% was driven by an increase in internet sales of 86.1% reflecting the shift in our customers shopping preference during the pandemic and our increased marketing activities, coupled with an increase in showroom sales of 28.4% driven by an increase in our comparable showroom point of sales transactions over the prior year...
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