Lovesac reports Q3 EPS (32c), consensus (28c)

Reports Q3 revenue $149.9M, consensus $155.26M. Shawn Nelson, Chief Executive Officer, stated, “Near-term headwinds for our category clearly persisted through the pre-election period. However, we gained market share and strengthened our competitive position through our relentless focus on product innovation and operational excellence. Our expanding portfolio of innovative products is resonating with customers and creating new avenues for sustained growth in the future. The soft launch of our Reclining Seat in the fourth quarter is just one of many exciting examples to come. The fundamental drivers of our business – including our brand equity, innovation pipeline, and customer relationship opportunities – are strong and give us high conviction in our ability to deliver substantial value creation over the long term. We look forward to sharing a detailed view of these opportunities and our strategic roadmap at our upcoming investor day next week.”