Lovesac Co. (LOVE), a direct-to-consumer furniture company, announced a significant increase in its net loss for the third quarter, reaching $4.93 million or $0.32 per share, compared to a loss of $2.34 million or $0.15 per share in the same period last year. The company's total net sales for the quarter experienced a 2.7% decline, dropping to $149.91 million from $154.04 million the previous year.
According to a survey conducted by Thomson Reuters, seven analysts had anticipated the company to report a loss of $0.28 per share, with revenues projected at $155.26 million for the quarter. It should be noted that analysts typically do not include special items in their estimates.
Looking forward to the fourth quarter, Lovesac anticipates earnings ranging from $1.67 to $2.14 per share, with net sales projected to fall between $221 million and $241 million. This is in contrast to analysts' expectations, which forecast earnings of $2.59 per share on net sales of $268.46 million for the quarter.
For the fiscal year 2025, Lovesac has revised its earnings outlook, now expecting earnings to fall between $0.27 and $0.74 per share, with net sales ranging from $660 million to $680 million. Previously, the company had projected earnings of $1.01 to $1.26 per share on net sales between $700 million and $735 million. Meanwhile, market analysts anticipate earnings of $2.12 per share on net sales of $712.97 million for the fiscal year.
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