Lovesac Shrinks 17% In Pre-market As Q4 Results, Full-year Earnings Guidance Come In Below View

(RTTNews) - Shares of The Lovesac Company (LOVE) are down more than 17 percent in pre-market on Thursday to $19.31, after reporting fourth-quarter results below analysts' view. The furniture retailer's full-year earnings outlook also came in significantly lower than the consensus estimates.

Net income for the fourth quarter increased to $31 million or $1.87 per share from $26.2 million or $1.65 per share in the same quarter a year ago. However, earnings were below the analysts' estimate of $1.92 per share.

Sales for the quarter increased to $250.5 million from $238.5 million last year. The consensus estimate was for $265.32 million.

For the full year, Lovesac now expects EPS in the range of $1.06 to $1.59, lower than the Street view of $2.15 per share.

Lovesac shares had closed at $23.34, down 4.31 percent on Wednesday. The stock has been trading in the range of $14.18 - $30.93 in the last 1 year.