Lovesac's stock rockets after Q2 results beat expectations, as manufacturing keeps moving out of China [MarketWatch]
The Lovesac Company (LOVE)
Last the lovesac company earnings: 4/16 07:00 am
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Source: MarketWatch
Lovesac's stock rockets after Q2 results beat expectations, as manufacturing keeps moving out of China Shares of Lovesac Co. LOVE, +20.15% soared 23% in premarket trading Wednesday, after the beanbag and specialty furniture retailer reported a narrower-than-expected fiscal second-quarter loss and revenue that rose above forecasts. Separately, the company said it has reduced its manufacturing in China to 44% of its total this month from 75%, which puts it on track to be completely out of China if necessary by the end of 2020. For the quarter to Aug. 4, the net loss narrowed to $4.8 million, or 33 cents a share, from $7.0 million, or $3.71 a share, in the year-ago period. Excluding non-recurring items, the adjusted loss per share was 31 cents, compared with the FactSet loss consensus of 51 cents. Sales grew 45% to $48.15 million, above the FactSet consensus of $47.8 million. Gross profit margin decreased to 50.4% of sales from 53.6%, primarily because of of the 10% China tariffs, whi
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LOVE
News
- The Lovesac Company (NASDAQ: LOVE) is now covered by analysts at Maxim Group. They set a "buy" rating and a $36.00 price target on the stock.MarketBeat
- Lovesac Announces Mother's Day Nomination Program [Yahoo! Finance]Yahoo! Finance
- Lovesac Announces Mother's Day Nomination ProgramPR Newswire
- The Lovesac Company (NASDAQ:LOVE) Q4 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Why Lovesac Continues To Grow While Other Furniture Brands Falter [Forbes]Forbes
LOVE
Earnings
- 4/11/24 - Miss
LOVE
Sec Filings
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- LOVE's page on the SEC website