Refile: BUZZ-Lovesac jumps on strong annual sales forecast, Q4 results beat

Lovesac Co

28/03/2023 13:01

(Removes extraneous word in third bullet)
    ** Shares of home furnishing brand Lovesac Co  LOVE.O  up
~10% at $26.50 premarket
    ** Company forecasts 2024 sales above analysts' estimates,
benefiting from strong demand for couches, beanbag chairs and
home decor
    ** LOVE expects annual sales between $700 mln and $740 mln,
compared with estimates of $692.3 mln, per Refinitiv data
    ** However, company sees 2024 profit of $1.83 to $2.24 per
share, largely below expectations of $2.10 per share
    ** LOVE also beats Q4 sales and profit estimates 
    ** Up to Monday's close, stock had fallen ~46% in the last
12 months

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))