Lovesac Q1 Net Loss Narrows

(RTTNews) - Lovesac Co. (LOVE), a direct-to-consumer specialty furniture brand, reported Thursday a net loss of $10.8 million or $0.73 per share for the first quarter, narrower than $13.0 million or $0.83 per share in the prior-year quarter.

Total net sales for the quarter increased 4.3 percent to $138.4 million from $132.6 million in the same quarter last year, primarily driven by an increase of 2.8 percent in omni-channel comparable net sales and the net addition of 21 new showrooms. Analysts expected net sales of $162.29 million for the quarter.

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