The Lovesac Company Expands Share Repurchase Authorization by $40 Million
The Lovesac Company (NASDAQ: LOVE) expanded its share repurchase authorization by $40.0 million on March 26, 2026, bringing the total program to approximately $54.1 million.
Rhea-AI Summary
The Lovesac Company (NASDAQ: LOVE) expanded its share repurchase authorization by $40.0 million on March 26, 2026, bringing the total program to approximately $54.1 million. The company said repurchases will be funded from existing cash and future free cash flow and executed at management's discretion.
The program allows open-market, privately negotiated and accelerated share repurchases; timing and amounts are not guaranteed and may be suspended.
Positive
- $40.0 million additional repurchase authorization
- Total repurchase capacity raised to $54.1 million
- Program funded via existing cash and future free cash flow
Negative
- Repurchase timing and amounts are at management discretion, not guaranteed
- Repurchases may be suspended or altered depending on market conditions
Details
News Market Reaction – LOVE
In the Mar 26 session, LOVE gained 21.88%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Additional buyback authorization
- $40 million
- Incremental capacity added to existing share repurchase program
- Total repurchase program
- $54.1 million
- Approximate total authorization after expansion
- Inaugural repurchase program
- $40 million
- Authorization announced on Jul 31, 2024
- Accordion feature
- $10 million
- Uncommitted increase option in revolving credit facility (Jul 31, 2024 announcement)
- Credit facility extension term
- 5 years
- Revolving credit facility maturity extended to July 2029 (from 2024)
Previous Buybacks Reports
-
Announced credit facility extension and inaugural $40M share repurchase program.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
credit facility financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Total Authorized Repurchase Amount Increases to Approximately
STAMFORD, Conn., March 26, 2026 (GLOBE NEWSWIRE) -- The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), the Designed for Life home and technology brand, today announced that its Board of Directors has authorized the repurchase of up to an additional
Keith Siegner, Executive Vice President and Chief Financial Officer, stated, “We are pleased to announce the expansion of our share repurchase program, reflecting strong confidence in our business outlook. With a healthy balance sheet, access to meaningful liquidity through our credit facility, and a disciplined plan for fiscal 2027, we are well-positioned to fund strategic growth initiatives while simultaneously returning meaningful capital to our shareholders. Our approach to capital allocation is unchanged, investing in the business while being opportunistic with excess capital, all with a focus on long-term stakeholder value and enhancing returns on capital.”
The program is expected to be funded through the Company's existing cash and future free cash flow. The timing, manner, price and amount of any repurchases are determined by the discretion of management, depending on market conditions and other factors. Repurchases may be made through open market purchases, privately negotiated transactions, and accelerated share repurchases. The exact number of shares to be repurchased by the Company, if any, is not guaranteed. Depending on market conditions and other factors, these repurchases may be commenced or suspended at any time or periodically without prior notice.
About The Lovesac Company
Based in Stamford, Connecticut, The Lovesac Company (NASDAQ: LOVE) is a technology driven company that designs, manufactures and sells unique, high-quality furniture derived through its Designed for Life® approach which results in products that are built to last a lifetime and designed to evolve as customers' lives do. The current product offering is comprised of modular couches called Sactionals®, premium foam beanbag chairs called Sacs®, an immersive home entertainment and surround sound theater system called StealthTech®, the PillowSac® Chair, the Sactionals Reclining Seat, a recently launched platform of premium seating called Snugg™, and various accessories. As a recipient of Repreve's 8th Annual Champions of Sustainability Award, responsible production and innovation are at the center of the brand's design philosophy with products protected by a robust portfolio of design and utility patents. Products are marketed and sold primarily online directly at www.lovesac.com, supported by a physical retail presence in the form of Lovesac branded showrooms, as well as through shop-in-shops and pop-up-shops with third party retailers. LOVESAC, DESIGNED FOR LIFE, PILLOWSAC, SACTIONALS, SAC, STEALTHTECH, and THE WORLD’S MOST ADAPTABLE COUCH are registered word trademarks of The Lovesac Company and are registered in the U.S. Patent and Trademark Office.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other legal authority. Forward-looking statements can be identified by words such as “may,” “continue(s),” “believe,” “anticipate,” “could,” “should,” “intend,” “plan,” “will,” “aim(s),” “can,” “would,” “expect(s),” “expectation(s),” “estimate(s),” “project(s),” “projections,” “forecast(s)”, “positioned,” “approximately,” “potential,” “goal,” “pro forma,” “strategy,” “outlook” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements inherently involve risks and uncertainties. For information on certain factors that could cause actual events or results to differ materially from our expectations, please see our filings with the Securities and Exchange Commission (SEC), including our most recently filed Form 10-K and Form 10-Qs and similar disclosures in subsequent reports filed with the SEC. Any forward-looking statements speak only as of the date on which we make it. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Caitlin Churchill, ICR
(203) 682-8200
InvestorRelations@lovesac.com
