0.68% -0.15

Lovesac Company (LOVE)

Overview News Price History Option Chain Why LOVE Down? Discussions Forecast

Why is Lovesac Company (LOVE) Stock down?

We've noticed a 5.37% decline in Lovesac Company (LOVE) stock during the 2024-05-01 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

11 Apr, 2024:

Lovesac (LOVE) stock fell by 11.18% after the company's fourth-quarter CY2023 results fell short of analysts' expectations and a weak guidance.

Financial Performance: In the fourth quarter of CY2023, Lovesac reported a revenue of $250.5 million, which was a 4.9% increase year-on-year but fell short of analysts' estimates by 5.6%. The company also made a GAAP profit of $1.87 per share, an improvement from the profit of $1.74 per share in the same quarter last year.
Revenue Guidance: The company's revenue guidance for the next quarter was $129 million at the midpoint, which was 13.8% below analysts' estimates. This underwhelming guidance, along with a revenue guidance for the upcoming financial year 2025 of $735 million at the midpoint, missing analyst estimates by 4.7%, led to a negative market reaction and a decline in stock price.