Lovesac Q3 Loss Widens; Results Miss Estimates; Slashes FY25 Outlook

(RTTNews) - Lovesac Co. (LOVE), a direct-to-consumer specialty furniture brand, on Thursday reported that net loss for the third quarter widened to $4.93 million or $0.32 per share from $2.34 million or $0.15 per share in the prior-year quarter.

Total net sales for the quarter decreased 2.7 percent to $149.91 million from $154.04 million in the same quarter last year.

On average, seven analysts polled by Thomson Reuters expected the company to report loss of $0.28 per share on revenues of $155.26 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects earnings in a range of $1.67 to $2.14 per share on net sales between $221 million and $241 million. Analysts expect earnings of $2.59 per share on net sales of $268.46 million for the quarter.

For fiscal 2025, the company now projects earnings in a range of $0.27 to $0.74 per share on net sales between $660 million and $680 million. Previously, the company expected earnings in the range of $1.01 to $1.26 per share on net sales between $700 million and $735 million. The Street is looking for earnings of $2.12 per share on net sales of $712.97 million for the quarter.