Lovesac slumps on downbeat forecast

Lovesac Co

11/04/2024 13:12

** Shares of home furnishing company Lovesac  LOVE.O  fall
14.3% to $20 premarket
    ** Co sees Q1 net sales in range of $126 mln to $132 mln,
below Wall Street view of $147.50 mln - LSEG data
    ** Expects FY25 EPS between $1.06 to $1.59; analysts
anticipate EPS of $2.15
    ** forecasts Q1 basic loss/share between 84 cents to $1.03;
analysts on average forecast loss/share of 15 cents
    ** Q1 net sales of $250.50 mln misses market view of $265.30
mln
    ** Five of five brokerages rate the stock "buy" or higher;
their median PT is $44
    ** Up to Wednesday's close, stock had fallen 8.7% YTD

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