The Lovesac Company (NASDAQ:LOVE) is reporting third quarter financial results on Wednesday 9th December 2020, before market open.
According to analysts surveyed by Thomson Reuters, LOVE is expected to report 3Q21 loss of $ 0.88 per share from revenue of $ 66.14 million.
For the full year, analysts anticipate top line of $ 293.49 million, while looking forward to loss of $ 0.74 per share bottom line.
Previous Quarter Performance
The Lovesac Company unveiled loss for the second quarter of $ 0.08 per share, from the revenue of $ 61.95 million. The quarterly revenues increased 28.66 percent compared with the same quarter last year. Street analysts expected The Lovesac Company to report loss of $ 0.48 per share on revenue of $ 52.35 million for the second quarter. The bottom line results beat street analysts by $ 0.4 or 83.33 percent, at the same time, top line results outshined analysts by $ 9.60 million or 18.34 percent.
Stock Performance
Shares of The Lovesac Company traded up $ 1.01 or 3.08 percent on Tuesday, reaching $ 33.81 with volume of 400.90 thousand shares. The Lovesac Company has traded high as $ 33.85 and has cracked $ 32.09 on the downward trend
According to the previous trading day, closing price of $ 33.81, representing a 720.00 % increase from the 52 week low of $ 4.00 and a 13.52 % decrease over the 52 week high of $ 37.93.
The company has a market capital of $ 483.97 million and is part of the Consumer Cyclical sector and Home Furnishings & Fixtures industry.
Conference Call
The Lovesac Company will be hosting a conference call at 8:30 AM eastern time on 9th December 2020, to discuss its 3Q21 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.lovesac.com
The Lovesac Company designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories. The company offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans. It markets its products through its approximately 75 showrooms at top tier malls, lifestyle centers, and street locations in 30 states of the United States, as well as through online.
