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Lovesac Reports Q1 Loss, Tops Revenue Estimates

Lovesac (NASDAQ: LOVE), came out with a quarterly loss of $0.83 per share versus the Zacks Consensus Estimate of a loss of $0.99. This compares to loss of $0.28 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 16.16%. A quarter ago, it was expected that this company would post earnings of $1.93 per share when it actually produced earnings of $1.87, delivering a surprise of -3.11%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Lovesac, which belongs to the Zacks Retail - Home Furnishings industry, posted revenues of $132.64 million for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 3.47%. This compares to year-ago revenues of $141.19 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Lovesac shares have added about 1.7% ...