Why Lovesac Continues To Grow While Other Furniture Brands Falter [Forbes]
The Lovesac Company (LOVE)
Last the lovesac company earnings: 4/16 07:00 am
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Source: Forbes
7.5% growth in revenue in fiscal year 2024, reaching $700 million from $651 million the previous year. Lovesac's LOVE advance is remarkable, given that furniture retail revenues dropped 5.7% in 2023 to $75.2 billion from an historic high of $80 billion in 2022. And the home furnishings retail sector continued to slide in the first quarter 2024 from previous year, according to CNBC/NRF retail monitor Lovesac's topline performance is even more remarkable when set against its competitive set. RH RH just reported annual revenues were down 16% and Haverty's were off 18%. Williams Sonoma's Pottery Barn ended the year down 10% and its younger sibling West Elm dropped 19%. Arhaus bucked the trend with revenues advancing 5%, but still fell shy of Lovesac. No Love From Wall Street Yet Wall Street wasn't happy with Lovesac's results. Its stock price dipped from $24 and change on Tuesday before earnings to close just under $20 on Friday. Despite a 17% gross profit improvement for the year
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News
- Insider Spends US$434k Buying More Shares In Lovesac [Yahoo! Finance]Yahoo! Finance
- Lovesac Squattoman Review [USA TODAY]USA TODAY
- Bear of the Day: Lovesac (LOVE) [Yahoo! Finance]Yahoo! Finance
- Spotting Winners: Lovesac (NASDAQ:LOVE) And Home Furnishings Stocks In Q1 [Yahoo! Finance]Yahoo! Finance
- 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
LOVE
Earnings
- 4/11/24 - Miss
LOVE
Sec Filings
- 4/26/24 - Form ARS
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- LOVE's page on the SEC website