Home furnishing firm Lovesac jumps on upbeat Q2 results

Lovesac Co

12/09/2024 17:28

(Updates)
    ** Shares of home furnishing firm Lovesac  LOVE.O  rise as
much as 26.6% to $26 in mid-day trading
    ** Co posts Q2 revenue of $156.6 mln, above Wall Street
estimates of $155.1 mln - LSEG data
    ** Reports core profit of $1.5 mln vs estimates of loss of
$2.71 mln
        ** Stock set for its biggest intraday pct. gain since
Sept. 09, 2021 
  
    ** Co sees FY25 revenue between $700 mln and $735 mln vs
analysts' average estimates of $722 mln
    ** "We are prudently planning for the second half of the
year given the category headwinds," says CEO Shawn Nelson
    ** LOVE shares hit their highest levels since Aug. 1
    ** Avg. rating of analysts covering LOVE is "buy"; median PT
is $33.50
    ** Stock down 17.7% YTD, as of last close

 (Reporting by Khushi Singh and Savyata Mishra in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))