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The Lovesac Company - $LOVE STOCK NEWS

Welcome to our dedicated page for The Lovesac Company news (Ticker: $LOVE), a resource for investors and traders seeking the latest updates and insights on The Lovesac Company stock.

The Lovesac Company (NASDAQ: LOVE) is a technology-driven company based in Stamford, Connecticut, that designs, manufactures, and sells unique, high-quality furniture. The company’s standout products include Sactionals, modular couches known as 'The World's Most Adaptable Couch', and Sacs, premium foam beanbag chairs dubbed 'The World's Most Comfortable Seat'.

Lovesac’s innovative approach is encapsulated in its Designed for Life philosophy, ensuring products are built to last a lifetime and designed to evolve as customers' lives do. This approach emphasizes sustainability and responsible production, earning the company accolades such as Repreve’s 6th Annual Champions of Sustainability.

The company is also known for its proprietary Sactionals StealthTech™ Sound + Charge System, integrating invisible, immersive surround sound and charging capabilities into its furniture. Lovesac’s products are primarily sold online at www.lovesac.com, supported by direct-to-consumer touchpoints in the form of owned showrooms, shop-in-shops, and pop-up-shops with third-party retailers, including Best Buy.

In recent developments, Lovesac has partnered with Swarovski to offer a limited-edition Footsac blanket embellished with Swarovski® Crystals, sold exclusively at Nordstrom’s pop-up shops. This collaboration highlights Lovesac's commitment to merging comfort and luxury. Moreover, Lovesac has announced a Fall-Winter 2024 partnership with fashion label KidSuper, blending home comfort with avant-garde street style.

Founder and CEO Shawn Nelson's leadership has been crucial to Lovesac’s success. His book, Let Me Save You 25 Years: Mistakes, Miracles, and Lessons from the Lovesac Story, published with Forbes Books, provides an in-depth look at the company’s journey from a college side hustle to a successful IPO on NASDAQ.

Additionally, Lovesac’s dedication to ESG (Environmental, Social, and Governance) principles is evident through its multi-phased commitment to sustainability and socially responsible operations, with goals such as achieving net-zero waste and emissions by 2040.

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The Lovesac Company reported its Q1 FY25 financial results, showing net sales of $132.6 million, marking a 6.1% year-over-year decline. Gross profit increased by 2.1% to $72.0 million, with a gross margin improvement to 54.3%. Operating expenses rose by 17.9%, and net loss expanded to $13.0 million compared to $4.1 million year-over-year. The company opened 24 new showrooms but saw a decline in omni-channel and internet sales. For FY25, Lovesac reaffirmed its net sales guidance of $700-$770 million and expects an adjusted EBITDA of $46-$60 million. The company had cash equivalents of $72.4 million and no debt on its credit line as of May 5, 2024.

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The Lovesac Company (Nasdaq: LOVE) announced that it will release its first quarter financial results on June 13, 2024, before market open.

A conference call to discuss these results will be held at 8:30 a.m. Eastern Time on the same day. Investors and analysts can join the call by dialing 877-407-3982 or 201-493-6780 for international callers.

A live audio webcast and a recorded replay of the call will be available on the company's investor relations website.

Lovesac, headquartered in Stamford, Connecticut, is a technology-driven company known for its modular, sustainable furniture including Sactionals and Sacs. The company emphasizes responsible production and innovation, earning recognition from Repreve's Champions of Sustainability.

Products are marketed online and through various retail channels, including Best Buy.

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The Lovesac Company, renowned for its adaptable furniture, recently claimed eight awards at the 45th Annual Telly Awards for its 'Rewriting the Rules of Comfort' campaign. The campaign snagged 3 Gold, 4 Silver, and 1 Bronze Telly Awards in categories like Branded Content, Talent Partnerships, Online Commercials, and Social Media. This milestone celebrates Lovesac's 25 years of innovation in the furniture industry, featuring celebrity endorsements from Travis Barker, Brandy, Shaun White, and Haley Lu Richardson. The Telly Awards honor excellence in video and television across all screens, and this year saw nearly 13,000 entries globally. Other notable winners included Adobe, Calvin Klein, and NASA. Lovesac's CEO, Shawn Nelson, expressed pride in the campaign's recognition, highlighting customer feedback on the transformative comfort provided by their products. The full list of winners is available at the Telly Awards' website.

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The Lovesac Company has introduced the PillowSac Accent Chair, an enhancement to its existing Sac product line. The new chair boasts a solid-wood Frame made of Blonde Oak, offering both comfort and style. Customers can choose from over 150 machine-washable covers and customize with hardware finishes in brushed brass, gunmetal grey, or brushed nickel, and straps in black or tan webbing.

The chair is designed for easy, tool-less assembly and aims to blend seamlessly into modern living rooms. It also integrates well with existing PillowSac products. The starting price is $675, and it is available both online and in showrooms.

Lovesac CEO Shawn Nelson highlights the product's alignment with the company's Designed For Life philosophy, emphasizing its durability and adaptability to changing customer preferences.

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Lovesac Company (LOVE) reports a 5.0% growth in net sales for the fourth quarter and a 7.5% growth for fiscal year 2024, reaching over $700 million in revenues. The company plans to enhance its core products and invest in innovation to drive profitable growth in fiscal 2025.
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The Lovesac Company (LOVE) will release its Q4 and fiscal 2024 financial results on April 11, 2024, followed by a conference call. Investors can join the call to discuss the financial performance.
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The Lovesac Company announced a Fall-Winter 2024 partnership with fashion label KidSuper, creating a limited-edition collection blending home comfort with avant-garde street style. The collaboration coincides with the grand opening of the KidSuper Headquarters in Brooklyn, New York. Lovesac aims to disrupt traditional furniture categories and redefine comfort with KidSuper's bold designs. The partnership reflects Lovesac's commitment to integrating fashion and home design in innovative ways, building on previous successful collaborations with fashion and streetwear brands.
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Faruqi & Faruqi, LLP Investigates Potential Claims Against The Lovesac Company (NASDAQ: LOVE) for Violations of Federal Securities Laws and Deadline for Investors to Seek Lead Plaintiff Position
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Faruqi & Faruqi, LLP is investigating potential claims against The Lovesac Company (NASDAQ: LOVE) for securities law violations, urging investors with losses exceeding $50,000 to discuss their legal rights before the February 20, 2024 deadline.
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The Lovesac Company (Nasdaq: LOVE) announced its participation in the 2024 ICR Conference on January 8, 2024, at 1:30 p.m. Eastern Time. The fireside chat will be webcast live and available for online access on the Company's Investor Relations website, investor.lovesac.com.
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FAQ

What products does The Lovesac Company offer?

Lovesac offers modular couches called Sactionals, premium foam beanbag chairs called Sacs, and the Sactionals StealthTech Sound + Charge System.

What is the Designed for Life philosophy?

The Designed for Life philosophy ensures Lovesac products are built to last a lifetime and designed to evolve with customers' lives, focusing on sustainability and responsible production.

Where can I buy Lovesac products?

Lovesac products are primarily sold online at lovesac.com, with support from owned showrooms, shop-in-shops, and pop-up-shops with retailers like Best Buy.

What recent collaborations has Lovesac announced?

Lovesac recently partnered with Swarovski to offer a limited-edition Footsac blanket and announced a Fall-Winter 2024 partnership with fashion label KidSuper.

Who is the CEO of The Lovesac Company?

Shawn Nelson is the Founder and CEO of The Lovesac Company.

What is the Sactionals StealthTech Sound + Charge System?

The Sactionals StealthTech Sound + Charge System integrates invisible surround sound and wireless charging capabilities into Lovesac’s modular couches.

What is Lovesac's commitment to sustainability?

Lovesac is committed to ESG principles, focusing on sustainability and socially responsible operations, with goals like achieving net-zero waste and emissions by 2040.

What are Sactionals?

Sactionals are modular couches designed to be adaptable and customizable to fit various spaces and needs, known as 'The World's Most Adaptable Couch'.

What is the significance of the Designed for Life approach?

The Designed for Life approach ensures that Lovesac’s products are durable, sustainable, and can adapt to the changing needs of customers over time.

How has Lovesac been recognized for its sustainability efforts?

Lovesac has been recognized with awards like Repreve’s 6th Annual Champions of Sustainability for its commitment to responsible production and innovation.

The Lovesac Company

Nasdaq:LOVE

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361.86M
14.57M
8.92%
94.18%
26.88%
Wood Kitchen Cabinet and Countertop Manufacturing
Manufacturing
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United States of America
STAMFORD