Earnings ·
The Lovesac Company reported second quarter fiscal 2027 results ending August 2, 2026, achieving net sales of $161.2…
LOVELovesac Co
The Lovesac Company reported second quarter fiscal 2027 results ending August 2, 2026, achieving net sales of $161.2 million, a 0.4% increase from the prior year period. The company recorded net income of $7.4 million, or $0.51 per diluted share, compared to a net loss of $6.7 million in the same quarter last year. This turnaround was primarily driven by $21.0 million in IEEPA tariff refunds and related interest, which boosted gross margin by 1,200 basis points to 68.4%. Excluding these one-time recoveries, gross margin declined 40 basis points to 56.0% due to higher transportation costs and promotional discounting. The company ended the quarter with $68.8 million in cash and no debt. For full-year fiscal 2027, Lovesac expects net sales between $690 million and $710 million and diluted EPS of $0.98 to $1.26. The Lovesac Company designs, manufactures, and sells modular furniture and home technology products.