News

Furniture Company Lovesac Stock Drops 20% After Lowered FY25 Outlook And Missed Q3 Revenue Estimates

The Lovesac Company (NASDAQ:LOVE) shares are trading lower in the premarket session on Thursday. The company reported a third-quarter loss per share of 32 cents, narrower than the street view of 35 cents loss. Quarterly sales of 149.905 million (down 2.7%) missed the analyst consensus estimate of $155.264 million. The decrease in net sales was primarily driven by a decrease of 8.3% in omni-channel comparable net sales, partially offset by the net addition of 28 new showrooms. During the third qu