Lovesac Q3 Profit Edges Up; Results Top Estimates - Quick Facts

(RTTNews) - Lovesac Co. (LOVE), a direct-to-consumer specialty furniture brand, on Wednesday reported that net income for the third quarter grew to $2.75 million or $0.17 per share from $2.48 million or $0.16 per share in the prior-year quarter.

Net sales for the quarter increased 56.1 percent to $116.68 million from $74.74 million in the same quarter last year, driven by strong momentum across channels and comparable sales growth of 47.1 percent.

On average, seven analysts polled by Thomson Reuters expected the company to report loss of $0.41 per share on revenues of $112.19 million for the quarter. Analysts' estimates typically exclude special items.