The Lovesac Company (LOVE) Tops Q1 EPS by 71c, Revenues Beat

The Lovesac Company (NASDAQ: LOVE) reported Q1 EPS of $0.13, $0.71 better than the analyst estimate of ($0.58). Revenue for the quarter came in at $82.9 million versus the consensus estimate of $75.06 million.

Shawn Nelson, Chief Executive Officer, stated, “Our strong first quarter performance affirms the confluence of two highly-favorable dynamics in Lovesac’s evolution. The first is that we are providing a great customer experience, backed by product innovation, investments in digital, and expanded showrooms and other distribution channels. Impactful and high-return marketing and merchandising strategies further complement these efforts. The second is that the pandemic tailwinds continue within the home furnishings category itself and our teams are executing across the board to strengthen the Lovesac brand and value proposition in this environment. The results are clear and include record first quarter results highlighted by sales growth of 52.5%, a comparable sales increase of 48.8% and positive Adjusted EBITDA1 of $5.3 million.

Mr. Nelson continued, “As we look to the remainder of the year, we recognize the environment remains dynamic and we will continue to execute our vision and strategy with discipline as we focus on continuing to drive long-term value for all our stakeholders.”

For earnings history and earnings-related data on The Lovesac Company (LOVE) click here.

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