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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.

News

Lovesac Debuts New Holiday-Inspired Northern Nights Sac Collection

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Lovesac Company: Unveils Limited-Edition Northern Nights Sac Collection for Holiday Season, Offering 30% Off Promotions. The collection features three holiday-inspired fabrics, Snow Leopard Phur, Black Bear Phur, and Grizzly Phur, promoting comfort and style. Available for purchase in all Lovesac showrooms and online at lovesac.com.
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The Lovesac Company Reports Second Quarter Fiscal 2024 Financial Results

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The Lovesac Company announces financial results for Q2 of fiscal 2024, reporting a 4.0% increase in net sales and a 7.2% growth in omni-channel comparable sales. Gross profit increased by 16.8% and gross margin improved by 650 basis points. However, operating loss was $1.0 million compared to operating income of $8.1 million in the same period last year. Net loss was $0.6 million, resulting in a loss per diluted share of $0.04.
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Techstars Appoints Shirley Romig as Chief Accelerator Investment Officer and Expands Board of Directors with Kristi Mitchem and Julie Harris

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Techstars, the largest pre-seed investor in the world, has announced the appointment of Shirley Romig as the new Chief Accelerator Investment Officer. Romig will oversee Techstars' accelerator programs and manage the selection, funding, and mentoring of entrepreneurs globally. Additionally, Kristi Mitchem and Julie Harris have been appointed to Techstars' Board of Directors. Mitchem brings extensive experience in asset management, while Harris has a background in technology, management consulting, and financial services.
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The Lovesac Company Announces Second Quarter Conference Call Date

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The Lovesac Company (Nasdaq: LOVE) announced that its second quarter financial results will be released on November 3, 2023. Preliminary unaudited and unreviewed sales results for the third quarter of fiscal 2024 ended October 29, 2023, show expected net sales in the range of approximately $150 million to $152 million, up 11% to 13% from the same quarter in fiscal 2023.
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Lovesac Announces New Heroes Nomination Program

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Lovesac Company launches Heroes Nomination Program to honor individuals making a positive difference in their communities. Nominators can visit lovesac.com to nominate their heroes. Selected entrants receive a free Lovesac Footsac and a personalized note. Heroes also get a 30% merchandise discount from October 12 to November 12, 2023.
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The Lovesac Company Announces Notification from Nasdaq Related to Delayed Form 10-Q Filing

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Lovesac receives notice of non-compliance with Nasdaq listing rule due to delayed filing of Quarterly Report, has 60 days to submit a plan to regain compliance
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The Lovesac Company Reports Preliminary Second Quarter Fiscal Year 2024 Results

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Lovesac delays release of Q2 results due to financial restatements, provides preliminary Q2 financial results exceeding guidance: net sales $154M, gross margin 59%, net loss $0.5M-$1.5M.
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Lovesac Announces New Angled Side Combining Style, Flexibility, and Total Comfort

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The Lovesac Company Appoints Carly Kawaja as Chief People Officer

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Carly Kawaja has been named Chief People Officer of The Lovesac Company. She will be responsible for leading talent management and building a high-performing culture. Lovesac believes that Carly's experience will contribute to the long-term success of the brand and culture.
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The Lovesac Company announces Executive Vice President and Chief Financial Officer Donna Dellomo is retiring as CFO with Planned Transition to Senior Strategic Advisor

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Lovesac Company announced that Donna Dellomo is retiring as EVP and CFO and will take on a Senior Strategic Advisory role. Keith Siegner is appointed as the new EVP and CFO. Jack Krause has retired as Chief Strategy Officer but will remain on the board of directors.
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FAQ

What is the current stock price of The Lovesac Company (LOVE)?

The current stock price of The Lovesac Company (LOVE) is $23.93 as of December 20, 2024.

What is the market cap of The Lovesac Company (LOVE)?

The market cap of The Lovesac Company (LOVE) is approximately 368.2M.

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.

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The Lovesac Company

Nasdaq:LOVE

LOVE Rankings

#3361 Ranked by Market Cap
N/A Ranked by Dividends

LOVE Stock Data

368.23M
13.87M
10.08%
102.48%
26.03%
Furnishings, Fixtures & Appliances
Retail-furniture Stores
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United States of America
STAMFORD