Lovesac (NASDAQ: LOVE) reports wider quarterly loss, sales of $150.166 million missed expectations, stock fell.
Lovesac Company (NASDAQ: LOVE) stock experienced a decline following a third-quarter report that revealed a wider loss and lower sales than expected. The company reported an EPS loss of 72 cents, missing the projected 59-cent loss. Quarterly sales totaled $150.166 million, a slight increase of 0.2% year over year, but fell short of the estimated $154.146 million. The company adjusted its full-year outlook due to higher costs and weaker comparable sales. The growth was mainly driven by the addition of 17 new showrooms, partially offset by a 1.2% decrease in omni-channel sales.
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