Stock Alert: Lovesac Company Climbs 20%

(RTTNews) - Shares of Lovesac Co. (LOVE) are climbing almost 20 percent or $1.49 in Friday's trading at $9.00. The stock has traded in a range of $3.99 to $46.79 in the past 52 weeks.

Stamford, Connecticut-based Lovesac Co. is a direct-to-consumer specialty furniture brand with 91 retail showrooms supporting its ecommerce delivery model.

Thursday, Lovesac Co. reported fourth-quarter net income of $5.42 million or $0.37 per share, down from $8.44 million or $0.62 per share in the previous-year quarter. Adjusted earnings for the quarter were $0.37, compared to $0.63 per share in the prior-year quarter.

However, net sales for the quarter grew 43.6 percent to $92.18 million from $64.18 million in the year-ago period, driven by a 21.3 percent increase in showroom count over the same period last year, a total comparable sales increase of 49.1 percent, and an increase of 53.1 percent in "Other" sale.