Why Lovesac Stock Plummeted Today [The Motley Fool]
The Lovesac Company (LOVE)
Last the lovesac company earnings: 4/16 07:00 am
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Source: The Motley Fool
Why Lovesac Stock Plummeted Today The specialty furniture retailer is feeling the pinch of tariffs. But could it be a buy after the drop? Shares of Lovesac ( NASDAQ:LOVE ) plunged 23.2% on Tuesday after the modular furniture retailer announced mixed results for the 2020 first quarter and warned that tariffs will hurt earnings. Specifically, Lovesac's quarterly net sales climbed 53% year over year to $41 million, thanks to new locations and a whopping 43.5% increase in comparable-showroom sales as the company accelerated marketing investments to increase brand awareness. At the same time, that translated to an adjusted (non- GAAP ) net loss of $9.1 million, or $0.67 per share, worsening from a loss of $0.41 per share in the same year-ago period. Analysts, on average, were expecting a narrower net loss of $0.59 per share on revenue closer to $39 million. For perspective, Lovesac opened five new showrooms, closed two locations, and remodeled three this quarter, bringing its showroom bas
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LOVE
News
- Sustain-Ability: Beyond Recycled or Renewable Inputs [Forbes]Forbes
- Lovesac: Faltering Growth Offset By Margin Upside [Seeking Alpha]Seeking Alpha
- The best Teacher Appreciation Week discounts and deals, from free cookies to viral makeup [Business Insider]Business Insider
- The Lovesac Company (NASDAQ: LOVE) had its price target lowered by analysts at Oppenheimer Holdings Inc. from $60.00 to $35.00. They now have an "outperform" rating on the stock.MarketBeat
- Insider Spends US$434k Buying More Shares In Lovesac [Yahoo! Finance]Yahoo! Finance
LOVE
Earnings
- 4/11/24 - Miss
LOVE
Sec Filings
- 5/10/24 - Form SC
- 5/6/24 - Form DEFA14A
- 4/26/24 - Form ARS
- LOVE's page on the SEC website